الاهتمام المفتوح (Open Interest) هو مصطلح يُستخدم في الأسواق المالية، ويشير إلى العدد الإجمالي لعقود الخيارات أو العقود الآجلة التي لم يتم تسويتها أو إلغاؤها بعد. يُعتبر الاهتمام المفتوح مؤشراً على النشاط والتداول في السوق؛ حيث يشير ارتفاع الاهتمام المفتوح إلى زيادة في الفائدة من قبل المستثمرين، بينما يمكن أن يشير انخفاضه إلى تراجع في النشاط. الاهتمام المفتوح يعتبر مهمًا لأنه يساعد المستثمرين على فهم قوة الاتجاهات في السوق. على سبيل المثال، إذا كان هناك ارتفاع في سعر السهم مع ارتفاع الاهتمام المفتوح، فقد يُشير ذلك إلى استمرار الاتجاه الصعودي. وعلى العكس، إذا ارتفع السعر ولكن الاهتمام المفتوح انخفض، فقد يُشير ذلك إلى ضعف الاتجاه وقد يؤدي إلى انعكاس محتمل.

Open interest is the total number of outstanding derivative contracts for an asset – such as options or futures – that have not been settled. Open interest tracks all open positions in a particular contract rather than tracking the total trading volume.

Understanding Open Interest

Open interest is primarily associated with futures and options markets, where the number of open contracts changes daily. Open interest is the number of options or futures contracts held by traders in active positions. These positions have been opened but have not been closed, expired, or exercised.

Open Interest vs. Trading Volume

Open interest is sometimes confused with trading volume, but the two terms refer to different metrics. For example, imagine a trader holds 10 options contracts and sells them to a new trader entering the market. This transfer of contracts does not change the open interest because the positions were transferred, not closed or opened.

On the other hand, the trading volume increases by 10 due to this transfer.

The Importance of Open Interest

Open interest is a measure of market activity. Low or no open interest indicates that there are no open positions, or that most positions have been closed. High open interest means that there are many contracts still open, indicating that market participants will be closely monitoring this market.

Open interest measures the flow of money into or out of the futures or options market. An increase in open interest represents the entry of new or additional money into the market, while a decrease in open interest indicates a flow of money out of the market.

Open interest is important for option traders as it provides key insights regarding the liquidity of the option.

Practical Example of Open Interest

Below is a table of trading activity in the options market for traders A, B, C, D, and E. Open interest is calculated based on trading activity for each day. The key to understanding how this works is whether the trader bought or sold to open or close positions.

January 1: Trader A buys one option to open a position from trader B, increasing open interest by one.

January 2: Trader C buys five options to open a position from trader D, increasing open interest to six.

January 3: Trader A sells one option to trader D to close a position, reducing open interest by one.

January 4: Trader E buys five options from trader C to open positions, who sold the five he bought from trader D to close positions.

Is Higher Open Interest Better?

High open interest typically indicates higher liquidity for the contract. This usually means that there is a smaller spread between what the trader wants to receive for the option and what another is willing to pay. This can make buying and selling easier. If open interest is increasing and becomes higher, it suggests that market trends around this option are likely to continue.

Is Open Interest Bullish or Bearish?

Typically, increasing open interest means that new buying is occurring, which is a bullish trend. However, if open interest increases significantly, it could be a bearish signal indicating an impending change in market trends.

What Happens When Open Interest Increases?

When open interest increases, it usually means that new money is entering the market for that option. As long as this is happening, the current trend will continue. When open interest decreases, it typically indicates that the market is experiencing liquidation and that more investors are leaving. This often means that the current price trend is ending.

Conclusion

Open interest

Open interest is the total number of derivative contracts that are open and have not been settled, passed, closed, or expired. This measurement is related to options and futures markets rather than the stock market. Open interest equals the total number of open contracts, not the sum of all transactions between buyers and sellers.

When open interest increases, it represents new money entering the market. When open interest decreases, it indicates that money is flowing out of the market. Open interest is not typically considered an indicator of trends or prices.

Source: https://www.investopedia.com/terms/o/openinterest.asp