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2. The number of orders to buy a security made before the beginning of a trading day.
Open interest is a record of the total number of open contracts in any particular commodity or options market on any given day.
You have an open interest when you enter a futures or options contract. The contract remains open until it expires, requires delivery or settlement, or you close it by selling it or buying an offsetting contract.
Open interest is not the same thing as trading volume, which records how many contracts have been opened or closed on a particular day.