Of course it could be anyone that bought on Thursday and Friday. However I believe that it was mostly funds because:
Market behavior - Funds tend to buy or sell continuously as they are programmed to do. They begin at 8:00 and end at 12:30. Funds always buy or sell at certain trigger levels. From observing the market this level was around 105.00.
The open interest dropped for the two days. This is likely funds who are the biggest shorts.
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