Call OI

The share of open option contracts away from the price that are calls rather than puts, for the selected expiration. 66% means about twice as many calls as puts. It counts contracts — it is not a price target or a chance of a rise.

How it is calculated

Call OI = calls at strikes above the price ÷ (calls above + puts below) × 100

Open interest (OI) is the number of option contracts still open. Only out-of-the-money contracts count: calls above the price and puts below it. No price model and no volatility are involved.

What it is not

Every open call has a buyer and a seller, so open interest has no direction by itself. Many calls above the price are sold by holders of the stock to earn income. A high Call OI shows where contracts are open, not which way the price will go.