Bitget GOOGL Contract Open Interest Rises More Than 69% After Alphabet Earnings

Open interest in Bitget’s GOOGL contracts climbed more than 69% to $52.69 million in a 24-hour reading, while Alphabet shares fell nearly 10% after the company released third-quarter results Wednesday ET (early Thursday UTC+8). Market-wide open interest in GOOGL contracts rose 64.32% to about $637 million during the same window. Bitget’s $52.69 million total rounds from $52,689,400. Open interest measures the value of positions that remain open, including both long and short contracts. A higher total does not show which direction traders expect, and the figures do not establish that the earnings release caused the increase.

Source: TokenPost