A friend asked me what was going on with the recent contract for $UAI , and I casually replied:
“The price is down 23.98% over the past 24 hours, while open interest is up 62.49%. Most likely, short positions are coming in. But if too many shorts pile in, watch out for a rebound.”
He then asked how to trade it. I said I really couldn’t say for sure. I usually just wait and see, then decide once the price shows a direction.
Just jotting this down—make your own trading decisions.
“The price is down 23.98% over the past 24 hours, while open interest is up 62.49%. Most likely, short positions are coming in. But if too many shorts pile in, watch out for a rebound.”
He then asked how to trade it. I said I really couldn’t say for sure. I usually just wait and see, then decide once the price shows a direction.
Just jotting this down—make your own trading decisions.
