What is $Q ’s positioning telling us? Over 24 hours, open interest is down 38.24%, the price is up 74.71%, and open interest is around $35.06 million.
My take: shorts are probably exiting, and buybacks are likely driving the price up. Once the short covering tapers off, the question is whether new longs will step in.
Do you use open interest as a reference?
This post is for informational purposes only and does not constitute investment advice.
My take: shorts are probably exiting, and buybacks are likely driving the price up. Once the short covering tapers off, the question is whether new longs will step in.
Do you use open interest as a reference?
This post is for informational purposes only and does not constitute investment advice.