Participation without identity or conviction.
| Concept | Explanation | |---|---| | Open interest | Outstanding derivatives contracts not yet closed or settled. | | Rising open interest | New positions are being created. | | Falling open interest | Positions are being closed or expiring. | | Volume | Contracts traded during the period. | | Positioning divergence | Price movement is not confirmed by participation. |
Open interest does not identify the identity or conviction of each participant. Every derivative contract has both a long and a short side.