Where is the money going?
$IDOL Contract open interest fell 14.64% over 24 hours, while the price rose 11.78%. There’s still $15.85 million in open interest.
Open interest is falling while the price is rising: the move was probably driven by shorts closing and buying back, rather than by new longs rushing in. Watch to see whether open interest starts rising again—that would likely be the signal that fresh money is entering.
#IDOL
Don’t take this as advice.
$IDOL Contract open interest fell 14.64% over 24 hours, while the price rose 11.78%. There’s still $15.85 million in open interest.
Open interest is falling while the price is rising: the move was probably driven by shorts closing and buying back, rather than by new longs rushing in. Watch to see whether open interest starts rising again—that would likely be the signal that fresh money is entering.
#IDOL
Don’t take this as advice.
