metrics

Volume/OI Ratio

O
Options Pilot Education·Educational Content

Today's volume divided by open interest. High ratios may indicate new positions being established.

See Volume/OI Ratio analysis for 500+ stocksTry Options Pilot

The Volume/OI Ratio compares today's trading activity to the total outstanding contracts. It helps identify whether options activity represents new positions being established or existing positions being closed.

Interpreting the Ratio

  • Ratio > 1.0: Today's volume exceeds total open interest - significant new interest
  • Ratio 0.5-1.0: Active trading, mix of new and closing positions
  • Ratio < 0.5: Normal activity relative to existing positions

Why It Matters

A high Volume/OI ratio often signals unusual options activity. When traders establish new positions (rather than closing existing ones), it suggests conviction about future price movement.

Bullish Signals

  • High Vol/OI on calls with volume at the ask (buyers paying up)
  • Concentrated at specific strikes, especially OTM

Bearish Signals

  • High Vol/OI on puts with volume at the ask
  • Increased activity across multiple put strikes

Limitations

The ratio alone doesn't tell you:

  • Whether positions are opening or closing
  • The direction (buy vs sell)
  • Time frame of the traders

That's why professional traders combine Vol/OI with bid/ask analysis and open interest changes to build a complete picture of market positioning.

See it in Action

Volume/OI Ratio is used throughout our options analysis platform to help you make better trading decisions.

See Volume/OI Ratio Analysis Live

Our scoring system evaluates volume/oi ratio across hundreds of stocks daily. Join the waitlist to see which options have the best opportunity right now.

Join 2,500+ traders on the waitlist · Free during early access · No credit card required

Volume/OI Ratio - Options Trading Definition | Options Pilot | Ainvest Options Pilot