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Open Interest (OI) is one of the most powerful tools in a derivatives trader’s arsenal—but only if you know how to read it right. At Vtrender, we publish a daily institutional-grade OI change table to help serious traders decode where market participants are building or unwinding positions.
This post breaks down how to interpret that table like a pro and use it to build conviction in your directional or neutral trades.
The table shows the net change in Open Interest for four types of participants across major derivative instruments—on a daily basis.
Each row tells you:
Total Net OI (how many contracts are open by that group)
Day-over-day change in OI (how many contracts were added or removed)
Direction of change (via red and green bars)
We cover:
FII – Foreign Institutional Investors
Client – Primarily retail and HNI traders
PRO – Proprietary desks
DII – Domestic Institutional Investors
Instruments included:
Index Futures
Index Options (Call/Put)
Stock Futures
Stock Options (Call/Put)
Two Dates: March 26 and March 27, 2025.
Four Participant Types:
FII – Foreign Institutional Investors
Client – Retail/individual traders
PRO – Proprietary desks
DII – Domestic Institutional Investors
Instrument Types:
Index Futures
Index Options (CE/PE)
Stock Futures
Stock Options (CE/PE)
Each row shows:
Net Open Interest (OI) on that day
Change in Net OI from the previous day
Bar graphs (Red = negative change / Green = positive change)
Let’s take an example:
Net OI: 197,200 (Total contracts they’re holding)
Change in OI: -69,791
→ This means FIIs reduced their Index Put positions by ~70k contracts
→ Can be interpreted as unwinding bearish bets or profit booking
Change in OI: +238,527
→ Huge increase in Call OI on stock options by prop desks
→ Possible bullish sentiment or call writing (if price stalled) — context needed
Green bar = Addition to Open Interest (Fresh Positions)
Red bar = Reduction in Open Interest (Covering or Exit)
This helps visualize who’s adding risk vs exiting.
Look for consistency across participants:
If both FIIs and PROs are adding Index PE → likely defensive stance.
If Clients reduce Index CE but PROs add → retail is scared, smart money isn’t.
Spot transitions:
E.g., Client Stocks CE on Mar 27 shows massive unwind (-304,873).
Could indicate retail abandoning bullish positions — often late to exit.
Cross-check with price action:
Rising OI with rising price → Long build-up
Rising OI with falling price → Short build-up
Falling OI with rising price → Short covering
Falling OI with falling price → Long unwinding
The OI post is updated daily at - https://vtrender.com/forum-blog
follow @Vtrender on X for a post update.
Focus on OI Change, not just Net OI.
Watch FII + PRO behaviour for institutional intent.
Daily comparison like this is best used with volume and price trend for confirmation.
Look for alignment:
If both FIIs and PROs are adding Index PEs → smart money is bracing for downside. Respect it.
Fade retail, follow smart money:
When Clients are building Index Calls and FIIs are unwinding → potential trap for late longs.
Stock Futures positioning:
Strong OI build-up in stock futures from PROs or FIIs often precedes directional breakouts. Filter for quality setups.
Use it with Option Volume + Orderflow:
OI tells you where positions are being built. Orderflow and Option VolX tell you how they are being entered.
This daily OI chart is not meant to predict markets on its own—it’s a confirmation engine. It shows you where the serious money is placing bets, and whether they are holding or exiting.
At Vtrender, we use this data in tandem with Market Profile, Orderflow, and Option VolX tools to build bias that holds up intraday and across expiry cycles.
You can access this daily OI view as part of our charting package at:
