Mini-SPX Index (XSP) Open Interest History
Open interest tracks the total number of outstanding options contracts. Rising OI alongside price moves can indicate growing commitment to the trend; declining OI suggests positions are being closed.
Snapshot as of Oct 15, 2026.
- Spot Price
- $774.41
- Call OI
- 260.6K
- Put OI
- 638.6K
- Total OI
- 899.2K
- Put/Call Ratio
- 0.86
As of Oct 15, 2026, Mini-SPX Index (XSP) has 899.2K total contracts outstanding across all expirations. Put/call OI ratio is 2.45 (put-heavy positioning, often indicating hedging or bearish bias). Open interest reflects accumulated positions from prior sessions; persistent growth indicates sustained directional or hedging interest, while sharp drops typically mean post-expiration clean-up.
How XSP open interest history Data Feeds Strategy Selection
Strategy selection on Mini-SPX Index options does not derive from any single metric in isolation. The open interest history view above sits inside a broader read: ATM IV currently sits at 12.6% and dealer gamma exposure is negative, so dealer hedging amplifies directional moves. Combine the open interest history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
How to read the XSP open-interest data
The open-interest time-series below tracks the total Mini-SPX Index options inventory outstanding day by day. OI is a stock measure - the cumulative position count - so trends flag accumulating or distributing positioning. Current put/call ratio is 0.86, roughly balanced. Total call OI of 260.6K versus put OI of 638.6K gives a put/call OI ratio of 2.45 - structurally a slower-moving signal than the volume-based ratio.
XSP flow vs positioning
Volume tells you what flows happened today; OI tells you what positions accumulated. Both can move in opposite directions: rising volume with falling OI means contracts are being closed (covering); rising volume with rising OI means new positions are being opened. The combination matters more than either alone for reading sentiment. Combined with the current negative dealer-gamma regime, large OI clusters tend to act as price repellents that accelerate moves through key strikes.
Using XSP OI/volume data alongside other surfaces
Per-strike OI is the input to dealer-gamma calculations: strikes with elevated call OI generate gamma walls that dealers must hedge into as spot approaches them. The gamma-exposure page combines this distribution with the dealers' assumed-long-gamma assumption to project hedge flow. Volume cross-checks recent positioning shifts in the chain that haven't yet shown up in cumulative OI. Pair both with the term-structure view on the volatility page to determine whether the activity is concentrated in near-dated event hedging or longer-dated structural positioning. Front-month expiration for XSP sits at 29 days, so near-dated volume currently dominates the flow reading.
Learn how open interest is reported and how to read the data →
Daily open-interest history for XSP options over the last ~32 trading days. Each row reflects the end-of-day total OI summed across all listed strikes and expirations.
Most recent 15 trading days (descending). Older history appears in the chart above.
| Date | Call OI | Put OI | Total OI | P/C OI |
|---|---|---|---|---|
| Oct 15, 2026 | 260.6K | 638.6K | 899.2K | 2.45 |
| Oct 14, 2026 | 259.8K | 623.6K | 883.4K | 2.40 |
| Oct 13, 2026 | 260.6K | 617.6K | 878.3K | 2.37 |
| Oct 12, 2026 | 241.2K | 610.0K | 851.3K | 2.53 |
| Oct 9, 2026 | 261.8K | 589.4K | 851.2K | 2.25 |
| Oct 8, 2026 | 254.2K | 577.9K | 832.1K | 2.27 |
| Oct 7, 2026 | 249.3K | 574.3K | 823.6K | 2.30 |
| Oct 6, 2026 | 249.7K | 564.3K | 813.9K | 2.26 |
| Oct 5, 2026 | 242.2K | 558.9K | 801.1K | 2.31 |
| Oct 2, 2026 | 251.9K | 565.7K | 817.6K | 2.25 |
| Oct 1, 2026 | 252.5K | 555.9K | 808.4K | 2.20 |
| Sep 30, 2026 | 259.5K | 587.3K | 846.9K | 2.26 |
| Sep 29, 2026 | 252.9K | 585.6K | 838.4K | 2.32 |
| Sep 28, 2026 | 243.6K | 573.0K | 816.6K | 2.35 |
| Sep 25, 2026 | 254.6K | 585.6K | 840.2K | 2.30 |
XSP highest open-interest contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $787.00 | Oct 30, 2026 | 3.3K | 127 | 10.8% | $2.81 | $2.85 |
| PUT | $735.00 | Dec 18, 2026 | 2.6K | 104 | 17.6% | $6.66 | $6.76 |
| CALL | $782.00 | Oct 20, 2026 | 3.9K | 239 | 8.9% | $0.96 | $1.02 |
Top 3 contracts from the institutional-grade nightly options scan; ranked by oi within the broader S&P 500/400/600 + ETF universe.
Frequently asked XSP open interest history questions
- What is the current XSP options open interest?
- As of Oct 15, 2026, Mini-SPX Index (XSP) has 899.2K total contracts outstanding across all listed expirations, split as 260.6K calls and 638.6K puts. Open interest reflects accumulated positions from prior trading sessions; it does not include today's volume until end-of-day reconciliation.
- What is the XSP put/call open interest ratio?
- Put/call OI ratio of 2.45 is put-heavy, often indicating hedging demand or bearish positioning.
- What does XSP open interest tell traders?
- Persistent OI growth indicates sustained directional or hedging interest; sharp drops typically mean post-expiration position cleanup. Heavy OI concentrations at specific strikes act as support and resistance levels because dealer hedging amplifies near those strikes - the gamma profile of the dealer book is concentrated there. Comparing today's volume to standing OI separates opening flow from closing flow.