Long buildup
Futures open interest up more than 3% on a day price rose over 1%. New longs being opened.
When a stock rises while its futures open interest grows, new money is being committed to the upside. Every added contract is a fresh long meeting a fresh short at a higher price, and price advancing tells you which side is paying up. The same move on falling OI would be short covering, a position being exited rather than conviction. A price-only screener cannot see the difference.
More derivatives:Short buildupShort covering rallyLong unwindingOpen interest at a 3-month highFutures at a premium
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