Binance Futures Accounts Lean Long on Novo Nordisk (NVO)

Binance Futures accounts showed a long bias in Novo Nordisk (NVO) positions on Nov. 9, with nearly seven in 10 global accounts positioned long. The snapshot also showed flat funding and a modest rise in open interest.

At 7 a.m. ET (12:00 UTC), 68.7% of global accounts were long and 31.3% were short. Among top-trader accounts, 73.4% were long and 26.7% were short.

Other futures measures showed a more mixed picture. Funding was 0.0000%, and open interest rose 0.68% over 24 hours to 23,323.49 contracts, with a listed value of $941,471. The taker buy/sell ratio was 1.0731, with buy volume of 539 versus sell volume of 503.

The positioning snapshot came after Novo Nordisk's Nov. 4 outlook increase, which followed Wegovy pill sales above forecasts. Third-quarter Wegovy pill sales totaled DKK 5.394 billion across four markets, including the United States.