Probably no one. This is very common, and you don't know why people trade futures, in the sense that you don't know why was this or that trade executed. A lot o

Probably no one. This is very common, and you don't know why people trade futures, in the sense that you don't know why was this or that trade executed. A lot of that activity is institutions hedging their portfolios. It's like when people get excited that someone buys a LOT of put options on, say, Apple. But you don't know that someone's portfolio! Perhaps they already own a ridiculous amount of Apple stock. And the option seller may instantly hedge by getting an appropriate amount of short AAPL.