$GRVT made an interesting move here: it surged 2.83% in 15 minutes, with volume climbing to more than 5x its usual level. The buy/sell ratio was 1.82, the aggressive trade delta was close to 30%, and it closed above the highs of nearly 20 consecutive 5-minute candles.
But OI was falling. Price up, open interest down—that’s a classic short-covering pattern. This wasn’t driven by new longs coming in; shorts were being squeezed into closing. The structure looks strong in the short term, but its staying power is questionable. Be careful chasing the price—you could get caught right as the short covering runs out.
But OI was falling. Price up, open interest down—that’s a classic short-covering pattern. This wasn’t driven by new longs coming in; shorts were being squeezed into closing. The structure looks strong in the short term, but its staying power is questionable. Be careful chasing the price—you could get caught right as the short covering runs out.