The 'OP' most likely does stand for 'Opening', this is a pecularity that appears to be unique to Wright, and only for a brief period of time. Your wrench is not common, and is fairly old, likely from the 20's. The model is 'P3' , the '0' (zero) is a date code, but early Wright date codes are not certain enough to date it reliably , perhaps 1930. (Wright was only formed in 1927, you have a sample of their earliest production, which is why it's a bit crude looking..)