Series 7: 5.2.5 Volume And Open Interest

Taken from our Series 7 Top-off Online Guide

5.2.5 Volume and Open Interest

The OCC publishes data on options trading on a daily basis. Two statistics that are of particular interest to traders are volume and open interest.

Volume is the number of options contracts traded during any given day. Open interest is the total number of options contracts that are currently open on a given day. Neither volume nor open interest is an indicator of price direction—that is, whether investors are bullish or bearish on an option. What they measure is an option’s liquidity: how actively a given option is being traded.

Volume changes throughout the trading day. Open interest is set at the beginning of a trading day and does not vary until the next morning. Volume measures the number of options contracts that

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