By Realtime Options ResearchUpdated

Open Interest Lens

Open Interest Lens maps the latest cleared call and put open-interest snapshot by strike and overlays runtime quote-side execution evidence for a selected expiry and contract. It helps separate existing positioning from current-session pressure while stating when the evidence is balanced, incomplete or contradictory.

Research question
How does current execution relate to cleared open interest?
Best used for
Comparing cleared positioning with current-session execution
Data timing
Near-real-time Pro; 15-minute delayed trial
Product access
Included in the single $25/month plan
Open Interest Lens for SPY with call and put open interest ladder quote pressure and contract evidence
Actual Open Interest Lens screen captured on August 5, 2026 with a historical SPY example. Scores describe evidence quality, not expected returns.

What the open interest lens shows

The view joins two clocks: open interest from the latest clearing cycle and runtime executions from the current session. The explicit coverage, agreement and confirmation fields make missing or conflicting evidence visible instead of hiding it behind one directional color.

The screenshot above is from the working product, not a mockup. The visible controls and fields are the same ones trial and Pro users research with; only the market-data timing changes between the two access levels.

  • Call open interest above the axis and put open interest below it by strike.
  • Quote-pressure overlay inferred from executions relative to recorded bid and ask.
  • Coverage and agreement measures that expose how much usable evidence supports the score.
  • Selected-contract fields including open interest, tape-to-OI ratio and spot distance.
  • Separate confirmation and invalidation prompts for a documented research note.

How to read this dashboard

Read the dashboard as one step in a sequence. Record what it directly shows first, then use the next view to test the interpretation rather than turning a color or ranking into a conclusion.

  • Confirm the expiry, strike and latest open-interest snapshot date.
  • Locate call and put concentration around spot before reading the pressure line.
  • Check coverage and agreement before using the evidence score.
  • Read the selected contract separately from the map-wide result.
  • Wait for the next cleared open-interest update before describing activity as opening or closing.

What this view cannot establish

Each open contract has both a long and a short side, and public executions do not reveal the beneficial owner or complete hedge. Quote-side classification can also remain ambiguous when trades occur near the midpoint or quotes are poor quality.

Realtime Options describes observed and derived market data for independent research. It does not identify a trader, reveal intent with certainty, predict a price move or issue a recommendation.

Questions people ask about this

Is Open Interest Lens showing live open interest?

No. Open interest is the latest available cleared daily snapshot. Runtime execution evidence is displayed separately so the two data clocks are not confused.

What does evidence confidence mean in Open Interest Lens?

It summarises the quality and agreement of the available execution evidence. It is not a probability that a contract or price direction will be profitable.

Can the view prove that a position was opened intraday?

No. The next official open-interest update can add evidence, but a current-session tape cannot by itself prove opening versus closing activity.

Sources and further reading

Realtime Options is a data analytics and visualisation platform. It does not provide financial advice or trading recommendations, and it is not a registered investment advisor or broker-dealer. Options trading involves substantial risk of loss and is not suitable for all investors.