Quick recap of the recent Alpha opportunity I caught through arbitrage on silver XAG. https://(x.com)/will_followin/status/2013080957386166469?s=46&t=akNrvwH7J8CfQVwvmQ4AfQ Even though it’s Lunar New Year this week, the international markets will still trade as usual next Monday, so I kept doing arbitrage over the weekend. This afternoon, I checked the order book, and the arbitrage funds were still pretty evenly distributed, fluctuating around 77.44 as the median. By 8 PM, a large chunk of sell orders suddenly disappeared, while there was a thick wall of buy orders stacked between 77.42-77.48. I realized that smart money might be making early moves, so I decisively turned off my arbitrage script and went long instead. The logic is that when the market opens at 7 AM next Monday, smart money will have already entered, and the thin liquidity won’t be enough to sustain the price, causing premiums to skyrocket.