Rollover
Closing a position in the expiring month's contract and opening the equivalent position in the next month, to keep exposure running past expiry.
Rollover percentage — how much of the expiring month's open interest has already moved to the next series — is watched in the days before monthly expiry as a rough proxy for how much conviction is carrying forward versus closing out flat.
A low rollover percentage isn't automatically bearish or bullish on its own — it can reflect genuine profit-booking, reduced conviction, or simply a quieter month, and is normally read alongside price action rather than treated as a standalone signal.
Example: if only 30% of NIFTY futures OI has rolled to the next month by the last Thursday before expiry, against a typical 55-60% at that point in the cycle, it's read as unusually low conviction carrying forward — traders would rather square off flat than keep the position running.
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