Open Interest (OI) is the total number of outstanding derivative contracts, futures or options that have been entered into and not yet settled, closed, or expired. It represents the total number of active positions in the market at any given time. Rising OI alongside a rising price is typically interpreted as confirmation of an uptrend (new longs being added); rising OI with falling price suggests fresh short positions being built. Falling OI alongside price movement usually indicates position unwinding rather than new directional conviction. In Indian markets, OI data for Nifty, Bank Nifty, and individual stock derivatives is published in real time by NSE and is among the most closely watched indicators by options and futures traders.
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