$NVDA perp bounced 11.7% off its own 24 hour low on the day its founder was written out of the company.
As of 18:20 Kyiv time, Nov 12. The TradFi perp trades at 166.72 USD, down 5.3% in 24 hours, with a 24 hour range of 149.22 to 177.82 and 4.78B USD of volume. Open contracts are up 41% in a day and funding sits at 0.086% a day paid by longs. Price is 31.6% under the 243.57 high of Oct 6. Taken from the Binance perp, not from a quote screen.
Jensen Huang resigned as CEO, president and board member today, effective immediately, with CFO Colette Kress as interim CEO (CNBC, Nov 12). Earnings land Nov 17.
My read on Angle 1: this is a governance shock, not a demand shock, and the two leave different marks in the book. A demand shock shows up as open interest draining out. Here the book grew 41% while longs still pay to hold, so new money came in to argue, not to leave.
Crypto treated it as a risk event. $BTC is at 71,665, down 3.2% in 24 hours, yet retail accounts sit 72.6% long, the 77th percentile of their own 30 days, with funding at 0.027% a day. Nobody capitulated and nobody is paying for the crowd.
I don't know whether Kress holds the capex story on Nov 17, and no positioning number can tell me that.
Before the report, check funding and open interest on whatever you already hold, not the headline count.
Which do you read first on earnings day, the guide or the positioning?
#CanNVDAReigniteAIRally #EarningsSeason
As of 18:20 Kyiv time, Nov 12. The TradFi perp trades at 166.72 USD, down 5.3% in 24 hours, with a 24 hour range of 149.22 to 177.82 and 4.78B USD of volume. Open contracts are up 41% in a day and funding sits at 0.086% a day paid by longs. Price is 31.6% under the 243.57 high of Oct 6. Taken from the Binance perp, not from a quote screen.
Jensen Huang resigned as CEO, president and board member today, effective immediately, with CFO Colette Kress as interim CEO (CNBC, Nov 12). Earnings land Nov 17.
My read on Angle 1: this is a governance shock, not a demand shock, and the two leave different marks in the book. A demand shock shows up as open interest draining out. Here the book grew 41% while longs still pay to hold, so new money came in to argue, not to leave.
Crypto treated it as a risk event. $BTC is at 71,665, down 3.2% in 24 hours, yet retail accounts sit 72.6% long, the 77th percentile of their own 30 days, with funding at 0.027% a day. Nobody capitulated and nobody is paying for the crowd.
I don't know whether Kress holds the capex story on Nov 17, and no positioning number can tell me that.
Before the report, check funding and open interest on whatever you already hold, not the headline count.
Which do you read first on earnings day, the guide or the positioning?
#CanNVDAReigniteAIRally #EarningsSeason