In plain English: Open interest in $PEPE 15-minute contracts increased by 3.03%, with a notional value of about $127 million; the price rose 0.95% over the same period.
Open interest moved, but my position is still zero. I’m just watching from the sidelines.
For a quick explanation: every open contract has both a long and a short, so open interest itself isn’t bullish or bearish. Across the entire market, the total number of longs and shorts is always equal.
Don’t chase a trade during the fastest part of a move. Wait for the price action to play out before taking a look.
Open interest moved, but my position is still zero. I’m just watching from the sidelines.
For a quick explanation: every open contract has both a long and a short, so open interest itself isn’t bullish or bearish. Across the entire market, the total number of longs and shorts is always equal.
Don’t chase a trade during the fastest part of a move. Wait for the price action to play out before taking a look.