|Simple Trading Ideas||
Open interest for different strike prices are calculated at the end of the trading day. Open interest or OI is telling us how many contracts for a certain strike price are not closed. Open interest is calculated for puts and calls fro all strike prices. Open interest configuration shows the different open interests for different strike prices. On the open interest configuration charts the strike prices are on the horizontal axis and the open interest are on the vertical axis. We can use this chart in our analysis which describes the relative levels of investor optimism and pessimism. When we look at the chart for the front moths spikes represent short term support and resistance levels where traders have to be cautious. Below you can see the open interest configuration chart for SPY.