Change in Open Interest refers to the difference in the number of open contracts (futures or options) between two time periods—most commonly from one trading day to the next.
It helps identify whether new positions are being added or old ones are being closed.
Change in OI - Frequently Asked Questions
It reveals trader behavior and sentiment:
OI ↑ with price ↑ = new long positions
OI ↑ with price ↓ = new short positions
OI ↓ = position closing/unwinding
It's calculated by subtracting yesterday’s OI from today’s OI:
Today's OI – Previous Day's OI
A positive value = new positions; negative = closed positions.
No. A positive OI change just means new contracts were created. It's bullish only if prices are also rising—otherwise, it may indicate bearish short buildup.
A drop in OI means traders are closing their positions, possibly due to profit-taking, reducing exposure, or lack of confidence in the current trend.