$JCT is up 157% on the day with $2.3B in volume, and open interest almost tripled to $39M (+195%). funding sits at 0.123% per interval, so longs are paying shorts to stay in.
retail L/S is 0.66 though, more accounts short than long, while top traders are net long at 1.43. small guys fading it, bigger accounts riding it.
OI that thin against that much volume is how a squeeze happens, and also how it gets unwound in a single candle. would you fade this or stay away?
#JCT #Futures
retail L/S is 0.66 though, more accounts short than long, while top traders are net long at 1.43. small guys fading it, bigger accounts riding it.
OI that thin against that much volume is how a squeeze happens, and also how it gets unwound in a single candle. would you fade this or stay away?
#JCT #Futures