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.

A Hyperliquid GOOGL contract snapshot showed 19 accounts with long exposure valued at about $20.56 million after the earnings release. In that snapshot, Hyperliquid open interest gained about $43.1 million, and the contract was quoted at $292.82 on Oct. 29. Fifteen accounts entered new long positions at prices above that quote.