Q: What does it mean when open interest is down 9.74% over $LUMIA 24 hours while the price is up 4.2%?
A: This rally was probably driven mostly by short covering; for now, there’s no clear sign of new money entering the market. Short covering eventually runs its course. Whether the move can continue depends on whether new money comes in.
Just my personal take—it may not be accurate, so please use your own judgment.
A: This rally was probably driven mostly by short covering; for now, there’s no clear sign of new money entering the market. Short covering eventually runs its course. Whether the move can continue depends on whether new money comes in.
Just my personal take—it may not be accurate, so please use your own judgment.