UAI dropped 4% in these 15 minutes, with trading volume surging to 6 times its usual level. OI fell 3.35%, while notional value shrank by nearly 380,000 U. Price down + OI down: classic IRSQ deleveraging. It wasn’t new shorts coming in to drive the price down; longs are exiting on their own. The active buy/sell ratio is 0.57, showing clear selling pressure. OI’s abnormality percentile is 97.6%, second-highest across the entire pool—this position contraction is extreme. There’s still 60 million in 24-hour trading volume supporting the market, and depth hasn’t collapsed, but short-term longs have been hit hard. First, let’s see if it can stabilize.