$AKE Contract market recap: Over 24 hours, net open interest fell 13.32% while the price rose 110.74%; the value of open interest is approximately $16.18 million.
Who was more on the back foot? Probably the shorts—falling open interest alongside a rising price usually means short positions are being closed out through buybacks. Once that covering is done, if no new longs step in, the rally can easily fizzle out.
Have you ever been caught in a wick?
Who was more on the back foot? Probably the shorts—falling open interest alongside a rising price usually means short positions are being closed out through buybacks. Once that covering is done, if no new longs step in, the rally can easily fizzle out.
Have you ever been caught in a wick?
