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To: Jeff O'Brien who wrote (760)	8/25/2000 12:57:00 PM
From: Dan Duchardt	Read Replies (1) \| Respond to 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

To: Jeff O'Brien who wrote (760)	8/27/2000 8:30:57 PM
From: gene_the_mm	Read Replies (2) \| Respond to of 1426

JEFF... If I am not mistaken OPEN INTEREST is simply the number or OPEN contracts for that month and strike. In other words, it is the number of contracts purchased or sold at a particular MONTH and STRIKE that have not been CLOSED (meaning they took one side but didn't close it). This is what I was told, however, I am an options IDIOT and this answer might be bogus. Can someone else help us here? All the best, -- Gene