Open interest at a 3-month high
More futures contracts open than on any day in three months — maximum positioning, whichever side it favours.
Record open interest means record disagreement: every contract is a long and a short who both think they are right, and a three-month high in contracts outstanding marks the stocks where that argument is largest. It says nothing about direction on its own — read the price trend alongside it — but the resolution of a crowded position book is rarely quiet.
More derivatives:Long buildupShort buildupShort covering rallyLong unwindingFutures at a premium
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