Funds clearly moved into the strong minority order book today.

$OPN +72.0%, with trading volume reaching $534 million, both the price increase and volume expansion indicate not a lack of momentum.
Open interest surged by 278.6%, with a still relatively high proportion of shorts, making this structure most susceptible to further squeezing.
$MAGMA +61.8%, with a trading volume of $152 million, showing real enthusiasm.
Open interest skyrocketed by 192.3%, with funding rates already high, indicating the order book is crowded, but trend funds have not yet dispersed.
$IN +27.7%, with a less exaggerated price increase than the first two, but open interest also increased by 53.1%.
Taker activity is slightly weak, suggesting it’s not a one-sided surge but more like a pullback after a rise, observing for continuation.
In the back ranks, there are also EPIC +23.1%, WLD +22.6%, STO +19.2%, SIREN +17.6%, Lobster +16.3%, BEAT +15.2%, JCT +14.0%.
On the decline list, SLX -29.7%, PORTAL -28.6%, MYX -28.6%, with PORTAL and MYX’s open interest clearly retreating, indicating a withdrawal from the other side.
Today’s short squeeze candidates are still concentrated on OPN, MAGMA, and IN.
Watch whether trading volume can continue to stay online, especially since OPN’s open interest growth has not cooled down.
$OPN $MAGMA $IN # Contract Data
Generated with Claude Opus 4.8. AI may make errors; information is for reference only.