$SIREN This 15m sell-off wasn’t particularly deep, but volume spiked to 7.74x, OI dropped more than 12% in an hour, and notional value shrank by 1.43M—a classic sign of leveraged longs getting out, with stops being hit as positions were reduced. The buy/sell ratio was 0.63, and aggressive trades were 22.6% net selling. Price and OI falling together is the rhythm of long deleveraging. The anomaly percentile is 97.2%, ranking third across the entire pool. This structural contraction has lasted for several periods; it’s not just a single wick. Watch for OI to stabilize and aggressive buying to return. Otherwise, this round of deleveraging may have more downside ahead. Not a trade call, just an intraday observation.