SPDR S&P 500 (SPY)

[risk on]

Someone doesn't understand the concept that open interest simply means open contracts, and for every holder of a contact there is an exact equal counterpart who either wrote or sold the contract. It's akin to looking at Volume on SPY alone, and saying; " hey look at all that money flowing into spy" , obviously overlooking the fact it could well be big sell volume. Open interest is irrelevant IMO, unless it's a liquidity thing, but in my experience, very few times on lanes 60 days out or less has liquidity ever been an issue on spy options.