---
title: "FII Long Short Ratio and Participant-Wise Open Interest"
canonical: "https://tapetide.com/insight/participant-wise-open-interest"
last_updated: "2026-10-28"
generated_at: "2026-10-29T05:25:43.246Z"
---

# FII Long Short Ratio and Participant-Wise Open Interest

By [Sanjay Mehta](https://tapetide.com/about/authors/sanjay-mehta), Research lead. How we research these reports: https://tapetide.com/about/editorial-policy

FIIs held 11.7% of their index futures open interest long on 28 Oct 2026 (35,808 long and 2,70,850 short contracts, a long-short ratio of 0.13), at the 4.6th percentile of 3,633 sessions since 2 Jan 2012. In index futures they are net short for 363 sessions in a row.

The FII long share averaged 12.9% over the last year, 34.3% over five years, 52.1% since 2012. It peaked at 97.6% on 2 Jan 2012 and bottomed at 6.0% on 30 Sep 2025. It was below 20% on 464 of the 3,633 sessions (12.8%) and above 80% on 321 (8.8%).

Net index futures contracts on 28 Oct 2026: FIIs −2,35,042, DIIs +41,188, proprietary traders −9,166, clients +2,03,020. Every contract has a long and a short side, so the four net figures offset each other.

## What participant-wise open interest shows

NSE publishes participant-wise open interest after every F&O session. It splits the open long and short contracts in index futures, stock futures, index options and stock options among four categories: foreign institutional investors (FII, also reported as FPI), domestic institutional investors (DII, such as mutual funds and insurers), proprietary traders (Pro, brokers trading their own money) and clients (everyone else, mostly retail and non-institutional accounts).

The FII long-short ratio most often quoted is the FII share of long contracts in index futures: long contracts divided by long plus short. A reading of 50% means FIIs hold as many long as short index futures; 25% means one long contract for every three short. Some sources quote long divided by short instead, shown here as the long-short ratio.

A short futures position is not necessarily a view that the market will fall. Foreign investors often hold Indian shares and use index futures to hedge them, and positions roll over around each monthly expiry. History gives a reading context, not a verdict.

Historical derivatives positioning data for research and information only. Not investment advice, and not a forecast: a futures position can hedge holdings elsewhere, so it does not show what any participant expects.

Canonical page: https://tapetide.com/insight/participant-wise-open-interest

Methodology:

- Participant-wise open interest in NSE equity derivatives as published by NSE after each session, 2 Jan 2012 to 28 Oct 2026: 3,633 sessions. Counts are contracts, not rupee values.
- FII long share: FII long index futures contracts as a percentage of FII long plus short index futures contracts. Long-short ratio: long divided by short. Net: long minus short.
- Percentile: the share of all stored sessions with a long share at or below the latest one. Averages are simple means of daily readings over the trailing 1 and 5 years and the full history.
- Yearly table: the last reading of each calendar year and that year's average, highest and lowest reading. 2026 is shown year to date.
- The chart plots the last reading of each week. Updated after each F&O session.

### Open interest by participant, 2026-10-28 (contracts)

Long share is long / (long + short) within each participant and segment.

| Participant | Segment | Long | Short | Net | Long share |
| --- | --- | --- | --- | --- | --- |
| FII | Index futures | 35,808 | 2,70,850 | −2,35,042 | 11.7% |
| FII | Stock futures | 35,78,447 | 27,04,517 | +8,73,930 | 57.0% |
| FII | Index calls | 5,23,927 | 8,38,851 | −3,14,924 | 38.4% |
| FII | Index puts | 9,72,837 | 4,77,895 | +4,94,942 | 67.1% |
| FII | Stock calls | 1,05,308 | 1,68,879 | −63,571 | 38.4% |
| FII | Stock puts | 1,64,434 | 98,280 | +66,154 | 62.6% |
| FII | All F&O | 53,80,761 | 45,59,272 | +8,21,489 | 54.1% |
| DII | Index futures | 47,598 | 6,410 | +41,188 | 88.1% |
| DII | Stock futures | 2,68,199 | 46,30,998 | −43,62,799 | 5.5% |
| DII | Index calls | 3,181 | 342 | +2,839 | 90.3% |
| DII | Index puts | 1,02,341 | 42 | +1,02,299 | 100.0% |
| DII | Stock calls | 580 | 1,79,685 | −1,79,105 | 0.3% |
| DII | Stock puts | 42,227 | 17,121 | +25,106 | 71.2% |
| DII | All F&O | 4,64,126 | 48,34,598 | −43,70,472 | 8.8% |
| Pro | Index futures | 25,387 | 34,553 | −9,166 | 42.4% |
| Pro | Stock futures | 7,51,269 | 3,53,130 | +3,98,139 | 68.0% |
| Pro | Index calls | 9,06,974 | 7,13,899 | +1,93,075 | 56.0% |
| Pro | Index puts | 8,30,946 | 8,62,105 | −31,159 | 49.1% |
| Pro | Stock calls | 6,73,250 | 8,47,210 | −1,73,960 | 44.3% |
| Pro | Stock puts | 7,26,033 | 6,46,649 | +79,384 | 52.9% |
| Pro | All F&O | 39,13,859 | 34,57,546 | +4,56,313 | 53.1% |
| Client | Index futures | 2,60,655 | 57,635 | +2,03,020 | 81.9% |
| Client | Stock futures | 32,93,179 | 2,02,449 | +30,90,730 | 94.2% |
| Client | Index calls | 25,17,339 | 23,98,329 | +1,19,010 | 51.2% |
| Client | Index puts | 22,79,246 | 28,45,328 | −5,66,082 | 44.5% |
| Client | Stock calls | 11,58,571 | 7,41,935 | +4,16,636 | 61.0% |
| Client | Stock puts | 6,00,580 | 7,71,224 | −1,70,644 | 43.8% |
| Client | All F&O | 1,01,09,570 | 70,16,900 | +30,92,670 | 59.0% |

### Index futures, recent sessions (net contracts)

| Date | FII long | FII short | FII long share | FII net | DII net | Pro net | Client net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 2026-10-28 | 35,808 | 2,70,850 | 11.7% | −2,35,042 | +41,188 | −9,166 | +2,03,020 |
| 2026-10-27 | 33,588 | 2,54,645 | 11.7% | −2,21,057 | +39,380 | −12,749 | +1,94,426 |
| 2026-10-26 | 46,522 | 3,23,627 | 12.6% | −2,77,105 | +40,512 | +29,011 | +2,07,582 |
| 2026-10-23 | 36,986 | 3,17,169 | 10.4% | −2,80,183 | +39,380 | +25,495 | +2,15,308 |
| 2026-10-22 | 34,703 | 3,15,003 | 9.9% | −2,80,300 | +37,770 | +24,245 | +2,18,285 |
| 2026-10-21 | 32,598 | 3,10,226 | 9.5% | −2,77,628 | +37,971 | +15,726 | +2,23,931 |
| 2026-10-19 | 36,661 | 3,16,591 | 10.4% | −2,79,930 | +36,854 | +12,285 | +2,30,791 |
| 2026-10-16 | 39,966 | 3,12,965 | 11.3% | −2,72,999 | +37,193 | +15,892 | +2,19,914 |
| 2026-10-15 | 38,549 | 3,18,376 | 10.8% | −2,79,827 | +36,441 | +24,074 | +2,19,312 |
| 2026-10-14 | 34,282 | 3,30,979 | 9.4% | −2,96,697 | +30,022 | +21,317 | +2,45,358 |
| 2026-10-13 | 35,416 | 3,24,911 | 9.8% | −2,89,495 | +34,531 | +25,107 | +2,29,857 |
| 2026-10-12 | 32,268 | 3,28,128 | 9.0% | −2,95,860 | +34,161 | +18,770 | +2,42,929 |
| 2026-10-09 | 34,943 | 3,28,931 | 9.6% | −2,93,988 | +31,930 | +32,535 | +2,29,523 |
| 2026-10-08 | 31,583 | 3,38,692 | 8.5% | −3,07,109 | +36,250 | +23,466 | +2,47,393 |
| 2026-10-07 | 33,426 | 3,31,711 | 9.2% | −2,98,285 | +33,919 | +18,966 | +2,45,400 |
| 2026-10-06 | 30,285 | 3,24,010 | 8.5% | −2,93,725 | +33,901 | +22,724 | +2,37,100 |
| 2026-10-05 | 29,117 | 3,31,508 | 8.1% | −3,02,391 | +32,828 | +27,530 | +2,42,033 |
| 2026-10-01 | 29,605 | 3,39,779 | 8.0% | −3,10,174 | +33,257 | +27,105 | +2,49,812 |
| 2026-09-30 | 29,394 | 3,12,264 | 8.6% | −2,82,870 | +32,050 | +8,394 | +2,42,426 |
| 2026-09-29 | 27,879 | 2,95,186 | 8.6% | −2,67,307 | +35,508 | +7,986 | +2,23,813 |

### FII index futures long share by year

Year-end is the last session of the calendar year; the current year is year to date. Sessions sum to 3,633.

| Year | Sessions | Year-end | Average | High | High date | Low | Low date | Sessions below 20% |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2026 (partial) | 202 | 11.7% | 12.9% | 29.2% | 2026-02-23 | 7.5% | 2026-01-09 | 179 |
| 2025 | 248 | 8.9% | 19.3% | 52.2% | 2025-05-08 | 6.0% | 2025-09-30 | 171 |
| 2024 | 246 | 13.7% | 46.9% | 83.8% | 2024-07-05 | 12.7% | 2024-06-04 | 9 |
| 2023 | 245 | 69.5% | 40.5% | 73.0% | 2023-07-06 | 7.8% | 2023-03-22 | 48 |
| 2022 | 248 | 50.4% | 43.2% | 76.6% | 2022-11-24 | 10.9% | 2022-06-14 | 29 |
| 2021 | 248 | 67.9% | 64.1% | 88.9% | 2021-05-27 | 40.2% | 2021-05-12 | 0 |
| 2020 | 250 | 75.6% | 51.4% | 82.1% | 2020-11-27 | 12.4% | 2020-02-28 | 19 |
| 2019 | 243 | 54.7% | 48.5% | 75.5% | 2019-04-25 | 18.0% | 2019-09-05 | 2 |
| 2018 | 243 | 52.7% | 46.5% | 79.8% | 2018-01-25 | 17.2% | 2018-04-03 | 7 |
| 2017 | 246 | 73.4% | 67.8% | 86.3% | 2017-06-05 | 48.9% | 2017-11-16 | 0 |
| 2016 | 243 | 69.2% | 68.0% | 91.7% | 2016-08-31 | 30.9% | 2016-01-28 | 0 |
| 2015 | 241 | 47.7% | 67.4% | 90.2% | 2015-03-03 | 39.5% | 2015-12-17 | 0 |
| 2014 | 242 | 88.7% | 71.5% | 93.6% | 2014-11-28 | 49.4% | 2014-08-08 | 0 |
| 2013 | 245 | 80.8% | 64.4% | 89.9% | 2013-11-01 | 32.0% | 2013-04-08 | 0 |
| 2012 | 243 | 83.5% | 63.4% | 97.6% | 2012-01-02 | 27.0% | 2012-06-04 | 0 |

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Compiled by Tapetide from exchange and regulator disclosures (NSE, BSE, SEBI) unless a section states otherwise — any figure marked unofficial or indicative is not an official disclosure. For research and information only, not investment advice. Generated 2026-10-29T05:25:43.246Z.