# Multistrike Vol/OI — StockMojo

- Live page: https://stockmojo.in/multistrike-voloi
- Content last updated: 2026-07-01
- Platform: StockMojo — free options analytics for Indian markets (NSE F&O)

This is a machine-readable markdown mirror of the live tool page. The live page shows real-time NSE data during market hours (09:15-15:30 IST) and supports 200+ F&O symbols via per-symbol URLs like https://stockmojo.in/multistrike-voloi/banknifty.

## 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.

## How to use Multistrike Vol/OI

1. **Pick an underlying and expiry** — Choose Nifty, BankNifty, or an F&O stock and select the expiry you want to analyse.
2. **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.
3. **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.
4. **Watch Interval Vol/OI** — The bottom chart shows per-minute volume ÷ OI. Spikes flag the exact moments turnover surges at a level.
5. **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.

## Related tools

- [Multistrike OI](https://stockmojo.in/multistrike-oi) — markdown: https://stockmojo.in/multistrike-oi.md
- [Multistrike Volume](https://stockmojo.in/multistrike-volume) — markdown: https://stockmojo.in/multistrike-volume.md
- [Option Chain](https://stockmojo.in/option-chain) — markdown: https://stockmojo.in/option-chain.md

## Glossary

Terms used: volume, open-interest, strike-price, expiry. Definitions: https://stockmojo.in/glossary