Does Open Interest Matter When Trying To Exit A Trade At A Good Price?
Although open interest can show you how popular (or not) a certain option contract is, it has no bearing on whether you can exit a trade at a decent price.
Even if an option has zero open interest, you can still get out of (or into) it if you make your price attractive to the market, or something close to fair value.
I find that if you want to sell an option, offer it just slightly below fair value, and you will most likely get filled. And vice versa when you want to buy. This will occur even if there is no open interest. You’ll be the first!