Just a quick thought: I was looking at the derivatives data earlier, and one detail about $Lobster caught my eye: open interest is down 10.92% over the past 24 hours, while the price is up +18.05%.
The price is rising while open interest is falling. It looks strong, but it’s probably mostly shorts closing their positions. I’ve chased moves like this before, and once the short covering was over, the price stopped climbing. This time, I want to see whether open interest starts rising again.
How do you usually handle situations like this?
NFA, DYOR.
The price is rising while open interest is falling. It looks strong, but it’s probably mostly shorts closing their positions. I’ve chased moves like this before, and once the short covering was over, the price stopped climbing. This time, I want to see whether open interest starts rising again.
How do you usually handle situations like this?
NFA, DYOR.