Multi-Strike Vol/OI Chart Today | Compare Option Turnover Across Strikes Live
Analyze multi-strike Vol/OI (volume divided by open interest) trends for Nifty, BankNifty, and all NSE F&O stocks. The Multi-Strike Vol/OI tool by StockMojo divides traded volume by open interest at each strike, so you see turnover — how many times the outstanding position at a level has changed hands — rather than raw volume or raw OI alone.
Vol/OI normalises activity by the size of the position base. A strike with modest volume sitting on tiny open interest can be heavily churned, while a strike with large volume on large OI reads as ordinary. Watching Call and Put Vol/OI together across the strike ladder shows exactly where the option market is concentrating its turnover.
Total vs Interval Vol/OI
The tool shows two charts. Total Vol/OI is the day's cumulative volume divided by current open interest — a running read on how thoroughly the OI has been traded through. Interval Vol/OI divides each minute's volume by OI, highlighting the precise moments turnover spikes. A burst of interval Vol/OI at a previously quiet strike is often the earliest sign that a level is coming into play.
Reading Vol/OI Alongside OI and Volume
High Vol/OI with rising open interest means fresh positions are being built and worked aggressively. High Vol/OI with flat OI means intraday churn — common at the ATM strike on expiry day. Low Vol/OI with high OI marks stale positioning. Pair this view with ourMulti-Strike OI and Multi-Strike Volumetools (one click to switch) to classify each strike's activity in seconds.
Expand your analysis with our Open Interest Analysis andLive Option Chain tools.
How to use Multistrike Vol/OI
- Pick an underlying and expiry — Choose Nifty, BankNifty, or an F&O stock and select the expiry you want to analyse.
- Select strikes to compare — Use High Volume or High OI auto-selection to load the most active strikes, or pick custom strikes around your key levels.
- Read Total Vol/OI — The top chart shows cumulative volume ÷ OI — how thoroughly the open interest has been traded through today, for calls and puts.
- Watch Interval Vol/OI — The bottom chart shows per-minute volume ÷ OI. Spikes flag the exact moments turnover surges at a level.
- Confirm with OI and Volume — Switch to the Multistrike OI or Volume views to see whether the turnover is building positions or just churning them.
Frequently Asked Questions
What is the Vol/OI ratio?
Vol/OI is traded volume divided by open interest for an option. It measures turnover — how many times the outstanding position at a strike has changed hands. A high Vol/OI means the strike is being actively churned relative to the positions held there; a low Vol/OI means the open interest is largely sitting still. The Multistrike Vol/OI tool plots this ratio for calls and puts across your selected strikes.
How is Multistrike Vol/OI different from the OI or Volume tools?
The OI tool shows the level of open positions, and the Volume tool shows raw traded activity. Vol/OI combines them into a single turnover measure, so a strike with modest volume but tiny OI can still stand out as heavily churned, while a strike with huge volume sitting on huge OI reads as normal. It normalises activity by the size of the position base.
What do the two Vol/OI charts show?
The top chart is Total Vol/OI — the day's cumulative volume divided by current open interest, showing how thoroughly the OI has been traded through so far. The bottom chart is Interval Vol/OI — each minute's volume divided by OI, highlighting exactly when turnover spikes. Both plot a Call line and a Put line (or one line per strike in Individual mode).
Why does the tool call two APIs?
Vol/OI needs both traded volume and open interest for the same strikes at the same timestamps. The tool fetches the multi-strike volume and multi-strike OI feeds together, aligns them by strike and time, and divides volume by OI to build the ratio — so the number always reflects matching data.
What does a high Vol/OI reading signal?
High turnover means traders are actively working the strike rather than holding. On expiry day, a spiking Vol/OI at the at-the-money strike often marks intense gamma scalping and settlement positioning. A sudden interval Vol/OI burst at a quiet strike is an early alert that a new level is coming into play, frequently before the raw OI changes materially.
Should I look at Call or Put Vol/OI?
Both. Rising Call Vol/OI while price pushes higher shows aggressive engagement of upside strikes; rising Put Vol/OI into a decline shows the same on the downside. When one side's turnover dominates, the option market is concentrating its activity there — useful confirmation alongside the raw OI and volume views.
How often does Multistrike Vol/OI update?
In live mode it refreshes on the same NSE cadence as the option chain, recomputing the ratio each cycle. Intraday traders watch the Interval Vol/OI chart for turnover spikes around key levels, while the Total Vol/OI chart gives a slower read on how much of the day's open interest has been traded.