$Q Contract Market Breakdown: Over 24 hours, open interest fell by a net 38.24% while the price rose 74.71%, putting the value of open interest at approximately $35.06 million.
Which side was more on the back foot? It may have been the shorts during this period: falling open interest alongside rising prices often means short positions are being closed. Once those positions have been closed, the rally could lose steam if there aren’t enough new buyers to take over.
Do you use open interest as a reference?
Which side was more on the back foot? It may have been the shorts during this period: falling open interest alongside rising prices often means short positions are being closed. Once those positions have been closed, the rally could lose steam if there aren’t enough new buyers to take over.
Do you use open interest as a reference?