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, or 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 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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