He said the current net-long position is roughly 43% of the total open interest in futures.

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Options volume shot through the roof, peaking at 52, 610 contracts midweek, the day the scandal broke, against 240, 506 total open interest.

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April contract calls were most active just before noon in New York, with overall options volume nearing 29, 000 contracts against total open interest on WYNN of 140, 493 contracts.

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However, the bank said the significant year-on-year growth in total open interest and the record long position held by the money-managers suggest that the market is overbought and vulnerable to a price break and long liquidation.

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Specifically, more than 182, 300 calls are open among all STX options, versus total put open interest of 85, 155 contracts.

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Overall, MMM has attracted total call open interest of 130, 504 contracts, compared to put open interest of 125, 272 contracts.

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In the December series, BBY has attracted total call open interest of 82, 231 contracts, compared to put open interest of 60, 802 contracts.

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Plus, SPWRA is also trading below heavy call open interest at the April 16 and 17 strikes, with a combined total of about 6, 000 contracts in residence.

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Total call volume at that strike has topped 2, 100 contracts, which is substantial compared to previously existing open interest of 450 contracts.

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