$SPX 24 hours down 16.83%, current price 0.4357, trading right at the 24h low of 0.4254. Over the past 1 hour, the position value increased by 9.61%, the buy/sell ratio (maker-initiated) is 0.815, yet the price only edged up from 0.4308 back to 0.4357—new positions are coming in, but the order flow leans toward the sell side. It looks more like shorts are adding at a low level rather than longs picking up. If the price falls back below 0.4254, it would indicate that these newly added short positions are still in control; if it moves back above the 0.5318 area, the direction inferred from the adding would be invalidated. The same batch—$MUBARAK is down 29.88%, and $FLOCK is down 18.65%—but both have position value decreasing; only SPX is adding positions.
#Contract open interest