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But we saved everything 🙂.
Tom McClellan notes that total open interest has been shrinking since January 2025.
The statement points to a decrease in market participation or activity over this period.
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McClellan has previously highlighted that buying opportunities in the S&P 500 tend to improve when analysts are pessimistic about future earnings here. He has also commented that post-2020 inflation followed his expected timeline, with both the Federal Reserve and Congress playing a role in its acceleration here. These observations add context to his latest remarks on declining open interest.