DislikedOpen Interest: It's no Secret Open interest is a concept all option traders need to understand. Although it is always one of the data fields on most option quote displays (also called Option Chain) - along with bid price, ask price, volume and implied volatility - many traders ignore open interest. It is as important as knowing the option's price or current volume. Unlike spot market trading, in which there is a fixed number of units are to be traded, option trading involves the creation of a new option contract when a trade is placed. Open interest...Ignored
If on call side OTM OI increases and on put side OTM OI decreases then it shows underlying moving short and opposite to watch for long, one needs to select multiple strikes price properly to view this. one can still do tons of accurate trades just on this info.
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