Indian Indices · OI history

Index OI vs past expiries

Total open interest (calls + puts) by moneyness — strike ÷ spot-at-the-time, not raw strike — from each expiry's last captured snapshot before it settled. Moneyness alignment lets cycles be compared directly even though spot itself moved between them: 1.00 is always "ATM at that expiry", 0.95 is always "5% OTM put side", regardless of the index's absolute level that week. Only expiries already archived in the chain history are shown — earlier than the archive's own start date, there's nothing to compare against.
Total OI by moneyness, last — expiries
No completed expiry cycles archived yet for this index.

Reading this chart

OI normally peaks at 1.00 (at the money). A peak off-center in one cycle means writers were positioned for a move that week. Taller peaks mean more total OI than usual.

  • Peak at 1.00 every cycle — normal.
  • Peak off-center — directional positioning that week.
  • Taller recent peaks — more OI than the recent baseline.

Methodology & data

Each cycle's strikes are bucketed by moneyness (strike ÷ that cycle's own spot) so cycles remain directly comparable even though spot differs cycle to cycle. Only completed expiry cycles with archived data are shown.

Why compare by moneyness instead of raw strike price?

Spot moves between expiry cycles, so a raw strike like 24000 means something different in one cycle versus another. Moneyness (strike divided by that cycle's own spot) normalizes for that, making cycles directly comparable.

What does an off-center OI peak mean?

It suggests option writers were positioned for a specific directional move that cycle, rather than the more typical at-the-money concentration seen in a neutral range-bound market.

How many expiry cycles are shown?

Every completed cycle with archived data for the selected index — coverage grows as more cycles complete and get recorded.

Which indices are covered?

NIFTY, BANKNIFTY, SENSEX, FINNIFTY, MIDCPNIFTY and BANKEX — switch between them using the selector above.