SPY Futures Rise 1.36% on Binance as Open Interest Falls 6.40%

SPDR S&P 500 Tokenized ETF (SPY) was up 1.36% over 24 hours in a Thursday futures snapshot, while open interest dropped 6.40%, pairing the price rise with fewer open positions.

SPY was quoted at $767.89 on Binance futures Thursday, Nov. 5. Futures volume was $164.48 million. The price ranged from $757.10 to $770.34 over 24 hours.

The quoted price was above its seven-day simple moving average at $760.69, 20-day simple moving average at $764.71, 12-day exponential moving average at $763.69 and 26-day exponential moving average at $765.66. It remained below the 50-day simple moving average at $768.66.

Momentum readings were mixed. The 14-day relative strength index was 52.26, while stochastic %K was 71.57. The moving average convergence divergence reading was -1.9724, with its histogram nearly flat at -0.0000.

Open interest stood at 43,973.47 contracts, valued at $31.58 million. With the price rising as open interest declined, the combination pointed more to positions being reduced than to new leverage entering the market. The funding rate was 0.0158%, meaning long positions paid short positions in the eight-hour settlement cycle.

The reference pivot was $765.11, with immediate resistance at $773.12 and support at $759.88. Stronger resistance and support were $778.35 and $751.87, respectively.