$PONS This drop is interesting: down 3.75% in 15 minutes, with volume surging to more than 13 times its previous level. OI is still climbing—price down, open interest up—a classic sign of leveraged shorts entering. The taker flow imbalance is -25%, and the buy/sell ratio is 0.6, showing clear selling pressure.
OI is at the 97.8th percentile, ranking 4th across the entire pool. This level is already close to the historical extreme range. 24-hour trading volume is only 13.87M, so the pool isn’t very deep; a sudden influx of volume like this is likely to cause significant slippage.
Shorts are piling in, but with such an extreme percentile and a thin pool, a squeeze in the opposite direction could be painful. I’ll watch for now—no rush to chase the shorts.
OI is at the 97.8th percentile, ranking 4th across the entire pool. This level is already close to the historical extreme range. 24-hour trading volume is only 13.87M, so the pool isn’t very deep; a sudden influx of volume like this is likely to cause significant slippage.
Shorts are piling in, but with such an extreme percentile and a thin pool, a squeeze in the opposite direction could be painful. I’ll watch for now—no rush to chase the shorts.