$BTW contract data breakdown: Over 24 hours, open interest fell by a net 16.04% while the price rose 20.3%; the value of open interest is approximately $119 million.
Who’s more on the back foot? It may be the shorts—declining open interest alongside rising prices looks more like short positions being covered and closed. Once the covering ends, the rally may slow if no new longs step in.
Who do you think will crack first next—the bulls or the bears?
Who’s more on the back foot? It may be the shorts—declining open interest alongside rising prices looks more like short positions being covered and closed. Once the covering ends, the rally may slow if no new longs step in.
Who do you think will crack first next—the bulls or the bears?