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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: Jeff O'Brien who wrote (760)8/25/2000 12:57:00 PM
From: Dan Duchardt  Read Replies (1) of 1426
 
Jeff,

Open interest is the total number of contracts open on an option. When you buy one, you either buy to open or buy to close out a short position. Buy to open increases open interest. Buy to close decreases open interest. Similarly, when you sell you either sell to open a short position (referred to as "writing"), or sell to close a long position. Open interest is updated at the end of each day.

Unlike volume, which is generally quoted separately for each exchange, you will see the same total open interest associated with each exchanges quotes.

You might want to ask questions and discuss options at

Subject 15384

or one of the other options threads.

Dan
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