$AKE This 15-minute move is directly going—down after taking it out past 9 o’clock, with volume expanding to more than 14 times its usual level. It looks more like longs are stepping on each other and exiting rather than a normal small pullback. Contract open interest is contracting in the short term, but on the 1-hour timeframe it’s still adding positions—there’s a big disagreement between bulls and bears.
The market data signals are very straightforward: the abnormality level of OI has already reached the 99th percentile, ranking first across the whole pool, with notional change ranking second. At this magnitude, the disruptions have been continuing for several consecutive cycles; it’s not something that’s just a quick spike and then over. With 24-hour trading volume of $170 million, for AKE’s size, this counts as an extremely active turnover.
Right now active sell pressure is dominant; the buy/sell ratio is 0.94, with the shorts slightly pressing. But honestly, after falling to this level, OI is still piling up at a high level. It’s hard to say whether this is a completed move or just somewhere on the hillside. As long as the funds haven’t fully exited, there’s a decent chance of both a rebound and continued probing lower.
For longs who entered at the high level, it must be pretty uncomfortable. In this situation, don’t rush to bottom-fish—wait until open interest truly comes down before considering it.
The market data signals are very straightforward: the abnormality level of OI has already reached the 99th percentile, ranking first across the whole pool, with notional change ranking second. At this magnitude, the disruptions have been continuing for several consecutive cycles; it’s not something that’s just a quick spike and then over. With 24-hour trading volume of $170 million, for AKE’s size, this counts as an extremely active turnover.
Right now active sell pressure is dominant; the buy/sell ratio is 0.94, with the shorts slightly pressing. But honestly, after falling to this level, OI is still piling up at a high level. It’s hard to say whether this is a completed move or just somewhere on the hillside. As long as the funds haven’t fully exited, there’s a decent chance of both a rebound and continued probing lower.
For longs who entered at the high level, it must be pretty uncomfortable. In this situation, don’t rush to bottom-fish—wait until open interest truly comes down before considering it.
