Thread by @stackshiny

(1 of 6) Quick #silversqueeze thread on MONUMENTAL SHIFTS quietly unfolding now

The 4 largest paper #silver traders by net position (bullion banks) saw their shorts CRATER from 31.8% of open interest, down to 22.3%

This is the largest weekly drop EVER (by far)

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(2 of 6) For context, the green area is the size of the move which occurred this past week. Shifts of this scale have happened a few times before, but they have ALWAYS taken 6-12+ weeks to unfold

This vaporization of bullion bank shorts happened in 5 trading days

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(3 of 6) Both total OI & # of traders ticked UP last week, reversing a downtrend in place since peak #silversqueeze levels just before the mid-June massacre

Therefore this was not some mass exodus from #silver, rather a tectonic shift of concentrated positions

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(4 of 6) If OI ticking up, and one (or more) of the top bullion banks is executing a mad dash to eliminate their #silver shorts, who was writing new contracts and soaking up the short positions?

For the most part, it was the hedgies. Chasing momentum? Sour bears?

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(5 of 6) So which whale(s) is(are) dumping/closing their #silver shorts?

- A third of the top 4
- Roughly a quarter of the top 8

Remind you of any distribution curves from the metals trading/manipulator leader boards?

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(6 of 6) This LARGEST 1-wk elimination of concentrated #silver shorts in history does not look like a broader, orderly move by bullion banks.

This looks much more like one bank deciding to rush & be first to move, à la "Close all the shorts. Today" style.

#silversqueeze