Derivatives

Futures volume surge

Futures trading at 1.5× their own 20-day average — the leveraged desk suddenly interested.

This is the volume shocker read from the derivatives market instead of the cash one. Futures volume is where positioning changes hands fastest, and a surge against the stock's own norm means the leveraged money found a reason today — news, a level, a rotation. Pair the list with the OI change to tell entry from exit: surging volume with rising OI is positions opening, with falling OI it is an unwind.

More derivatives:Long buildupShort buildupShort covering rallyLong unwindingOpen interest at a 3-month high