SENSEX Open Interest Analysis — Live
Per-strike change in SENSEX OI today — see where writers are piling in and where positions are unwinding.
Top 6 strikes by |ΔOI|
📊 Live visualisation
What is OI analysis for SENSEX?
Open Interest (OI) is the total number of option contracts currently outstanding at each strike. Change in OI (ΔOI) tells you what happened TODAY: positive ΔOI = fresh writing (sellers piling in), negative ΔOI = position closing / unwinding. Combined with price action, this gives the four canonical OI signals: long buildup (price up + OI up = new longs), short buildup (price down + OI up = new shorts), long unwinding (price down + OI down = longs exiting), and short covering (price up + OI down = shorts covering).
How to read the top-6 strikes table
The strikes listed are today's largest absolute-ΔOI zones — regardless of direction. Each row shows CE ΔOI and PE ΔOI. Big positive PE ΔOI at a strike BELOW spot = put writers defending that level (bullish floor). Big positive CE ΔOI ABOVE spot = call writers capping upside (bearish ceiling). Both sides positive at the same strike = expiry pin forming — dealers converging. Big negative ΔOI = existing positions being closed, which USUALLY means the strike's technical validity has expired.
OI analysis is the dealer's fingerprint
Retail traders trade options ONE contract at a time; institutional writers (dealers, mutual funds, prop desks) trade 50-500 contracts per fill. Because option writing is capital-intensive, only institutions can meaningfully shift OI at a strike by 10K+ contracts intraday. So when you see ΔOI of +50,000 puts at a strike below spot, you're seeing an INSTITUTION opening a large short-put position — betting spot stays above. Following this dealer footprint is one of the most reliable intraday edges for SENSEX.
OI change vs dealer gamma
OI change is one input to dealer gamma calculations. A strike with huge fresh PE writing today becomes a put wall in tomorrow's GEX profile (dealers short puts = dealers long spot below that strike = automatic bid). This is why OI analysis and GEX must be read together — see the [SENSEX GEX page](/gamma-exposure/sensex) for how today's OI changes translate into tomorrow's dealer defense zones.
Bar-level flow data (paid tier)
The snapshot here is aggregate day-so-far. For 5-minute bar-level OI change, per-bar aggressor breakdown (writer vs closer initiated), and the full 21-strike heatmap animation, use the [Order Flow terminal](/orderflow). Paid tier because the underlying tick pipe processes tens of thousands of quote updates per second per symbol.
Frequently Asked Questions
Why does SENSEX OI change during the session?
Every new options trade either OPENS a position (adds to OI) or CLOSES one (subtracts). The intraday tape is a running record of these.
What does 'fresh writing' mean?
A trade where BOTH sides are opening — a new writer sells to a new buyer. Both sides add to OI. Opposite is 'unwinding' — both sides closing.
Is high OI a resistance level?
Not by itself. High CE OI at a strike above spot USUALLY acts as resistance because writers defend it, but only if they're not already ITM (in which case they're panic-closing).
How often does the data refresh?
60-second cache on this page. Real-time (5-15 sec) is on /dashboard for logged-in users.
Where does the OI data come from?
Live NSE OI tape via Zerodha Kite Connect (primary) with Groww / Angel / Kotak fallback.
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