COT positioning this week

The CFTC's Commitments of Traders report, market by market: how large speculators and commercial hedgers are positioned in futures, and how that compares with the last three years. Report of 3 Nov 2026 (positions as of that Tuesday, published the following Friday).

In the CFTC report of 3 Nov 2026, large speculators are positioned most bullishly, relative to the past 3 years, in 2 Year Eris Sofr Swap (COT Index 100) and most bearishly in Tx Rec Crs V28 Front Half (COT Index 0). The biggest weekly shift was in Fed Funds (−381,747 contracts net).

Positioning by market

356 markets
Market Speculators net Weekly change Commercials net COT Index Bias
10 Year Eris Sofr Swap −55,383 +2,646 +55,438 24 Bearish
1k Shib Perp −606 −2 +0 17 Strongly bearish
2 Year Eris Sofr Swap +21,932 +1,108 −21,954 100 Strongly bullish
3 Year Eris Sofr Swap +23,131 +0 −23,105 68 Bullish
5 Year Eris Sofr Swap +25,725 −405 −25,635 87 Strongly bullish
7 Year Eris Sofr Swap +7,399 +5 −7,383 10 Strongly bearish
Adjusted Int Rate S&P 500 Totl +18,146 −10 −14,236 62 Bullish
Aeco Fin Basis +15,255 −1,651 −28,983 66 Bullish
Aep Dayton Hub Da Peak Daily +4,783 +4,283 −4,833 100 Strongly bullish
Algonquin Citygates Basis −6,912 +167 +11,700 30 Bearish
Algonquin Citygates Index +2,131 +0 −6,149 99 Strongly bullish
Aluminium Euro Prem Duty-Paid −1,215 −353 +1,050 57 Neutral
Aluminum Mwp −1,409 −380 +1,682 19 Strongly bearish
Argus Cif Ara Lg Finl Propane +440 −325 −367 68 Bullish
Argus Far East Propane +1,262 −7 −1,908 88 Strongly bullish
Argus Propane Far East Index +938 +61 −1,167 75 Bullish
Australian Dollar −129,457 −1,142 +112,683 0 Strongly bearish
Avalanche −57 +42 +0 93 Strongly bullish
Avalanche Perp Style −1,671 −140 +300 0 Strongly bearish
Bbg Commodity −17,167 −146 +16,751 65 Bullish
Bitcoin +2,230 −490 −2,123 74 Bullish
Bitcoin Cash Perp Style +670 +177 −927 95 Strongly bullish
Bloomberg Ig Credit Futures −507 +13 +484 23 Bearish
Brazilian Real +46,033 +13,147 −52,780 73 Bullish
Brent Last Day −31,538 −2,978 +23,809 36 Bearish
British Pound −59,821 +19,593 +68,999 19 Strongly bearish
Butane Opis Mt Belv Nontet Fp +3,236 +834 −3,136 64 Bullish
Butter (Cash Settled) −9,089 −252 +8,590 0 Strongly bearish
Caiso Np-15 Da Off-Pk Fixed −5,159 −909 +4,788 63 Bullish
Caiso Np-15 Peak −7,425 −969 +7,141 60 Neutral
Caiso Sp-15 Da Off-Pk Fixed −14,410 +1,156 +14,135 44 Neutral
Caiso Sp-15 Peak 0900-1600 He +4,293 +0 −4,233 100 Strongly bullish
Calif Carbon All Vintage 2026 +73,089 −3,716 −73,199 75 Bullish
Calif Carbon All Vintage 2027 +37,401 +6,906 −37,515 100 Strongly bullish
Calif Carbon Allowance V2026 −424 +23 +414 27 Bearish
Calif Carbon Current Auction −8,152 +64 +8,136 95 Strongly bullish
Calif Low Carbon Fsc-Opis +40,448 +865 −40,463 48 Neutral
Canadian Dollar −41,775 +24,649 +49,384 66 Bullish
Canola +1,371 −13,828 −824 54 Neutral
Cardona Perp Style −1,533 +213 +0 9 Strongly bearish
Cg Mainline Basis −9,706 −1,367 +8,963 60 Neutral
Cg-Mainline Financial Index −6,990 −300 +6,240 35 Bearish
Chainlink Perp Style +1,606 +1,107 −2,845 100 Strongly bullish
Cheese (Cash-Settled) −12,403 +209 +11,923 1 Strongly bearish
Chicago Citygate (Index) −4,397 +995 +4,281 52 Neutral
Chicago Fin Basis +1,506 −13,142 +1,826 68 Bullish
Cig Rockies Basis −79,219 +7,804 +78,151 53 Neutral
Cig Rockies Financial Index −37,175 −205 +34,975 0 Strongly bearish
Cme Milk Iv +8,195 +863 −7,288 91 Strongly bullish
Cobalt −182 +629 +459 92 Strongly bullish
Cocoa −9,267 −1,425 +8,124 13 Strongly bearish
Coffee C +11,956 −4,593 −13,915 37 Bearish
Condensate Dif-Tmx C5 1a Index +0 +0 +145 8 Strongly bearish
Conway Propane (Opis) −895 +106 +266 17 Strongly bearish
Copper- #1 +37,710 −10,607 −41,923 57 Neutral
Corn +137,595 −63,677 −137,516 50 Neutral
Cotton No. 2 +76,198 −6,280 −77,366 72 Bullish
Crude Diff-Tmx Sw 1a Index −200 +0 +215 29 Bearish
Crude Diff-Tmx Wcs 1a Index −14,920 −645 +14,925 23 Bearish
Crude Diff-Wcs Houston/Wti 1st +12,118 −30 −12,193 77 Bullish
Crude Oil, Light Sweet-Wti −25,151 +2,044 +24,435 15 Strongly bearish
Ct Recs Class 1 +646 +0 −646 52 Neutral
D4 Biodiesel Rins Opis Curr Yr +394 −537 −514 24 Bearish
D6 Rins Opis Current Year +7,309 −401 −7,362 90 Strongly bullish
Djia Consolidated +12,514 +2,915 −17,877 79 Bullish
Dogecoin −67 −85 +0 46 Neutral
Dogecoin Perp Style −2,260 +341 +0 34 Bearish
Dominion −414 −3,402 −3,445 43 Neutral
Dominion +23,223 −147 −22,755 65 Bullish
Dow Jones U.s. Real Estate Idx +716 +3,063 −2,896 48 Neutral
Dry Whey −2,109 +34 +1,807 37 Bearish
E-Mini S&P 400 Stock Index +5,718 −228 −9,472 57 Neutral
E-Mini S&P Communication Index +3,182 −393 −3,260 94 Strongly bullish
E-Mini S&P Consu Staples Index −515 −394 −303 73 Bullish
E-Mini S&P Energy Index +2,141 +605 −5,581 77 Bullish
E-Mini S&P Financial Index +2,899 +470 −4,557 51 Neutral
E-Mini S&P Health Care Index +2,901 −887 −4,584 62 Bullish
E-Mini S&P Industrial Index +1,246 +306 −1,019 52 Neutral
E-Mini S&P Materials Index +1,842 −1,606 −1,716 73 Bullish
E-Mini S&P Technology Index +1,588 +278 −3,875 76 Bullish
E-Mini S&P Utilities Index +417 +878 −2,184 42 Neutral
Emini Russell 1000 Value Index −13,971 −44 +12,274 6 Strongly bearish
Ep San Juan Basis −3,908 +0 −3,707 7 Strongly bearish
Ercot −11,438 −227 +11,099 0 Strongly bearish
Ercot Houston 345kv Hub Rt 7x8 +75 +0 +45 13 Strongly bearish
Ercot Houston 345kv Rt Off Fix +9,831 −1,213 −9,940 86 Strongly bullish
Ercot Houston 345kv Rt Pk Fix +9,161 −1,108 −9,315 88 Strongly bullish
Ercot N 345kv Real T Pk 2x16 +6,680 −321 −7,193 96 Strongly bullish
Ercot N 345kv Real T Pk Daly M −555 −560 +435 33 Bearish
Ercot North 345k Rt Offpk Dly −289 −705 +591 16 Strongly bearish
Ercot North 345kv Da Pk Dly Fi −1,175 +425 +1,027 83 Strongly bullish
Ercot North 345kv Hub Rt 7x16 −2,255 +0 +2,135 23 Bearish
Ercot North 345kv Hub Rt 7x8 +137,201 +2,552 −137,929 99 Strongly bullish
Ercot North 345kv Rt Pk Fix +66,821 −893 −67,251 70 Bullish
Ercot South 345 Kv Rt Peak Fix −2,913 +42 +2,992 74 Bullish
Ercot West 345k Rt Off-Peak −2,602 +0 +2,861 91 Strongly bullish
Ercot West 345kv Rt Peak −2,827 +0 +3,111 92 Strongly bullish
Ercot-South Monthly Offpeak −2,955 +0 +3,034 72 Bullish
Ercot.hb_north_month_7x8_rtp +6,475 +0 −6,655 20 Bearish
Ercot.hb_north_month_off_rtp −5,125 +0 +5,152 38 Bearish
Ercot.hb_north_month_on_rtp −2,450 +0 +2,450 21 Bearish
Ethane, Mt. Belv-Enterprise +5,440 −1,250 −5,765 56 Neutral
Ethanol +5,796 −841 −6,135 61 Bullish
Ethanol T2 Fob Incl Duty +136 −41 −99 76 Bullish
Ether Cash Settled +1,189 −588 −1,218 40 Neutral
Euro Fx −157,791 −13,897 +124,851 0 Strongly bearish
Euro Fx/British Pound Xrate −2,487 −1,144 −4,945 52 Neutral
Euro Fx/Japanese Yen Xrate +1,872 −22 −4,613 67 Bullish
Euro Short Term Rate −14,612 +707 +14,568 1 Strongly bearish
Fed Funds +29,234 −381,747 −31,482 53 Neutral
Feeder Cattle −933 −2,600 +4,070 21 Bearish
Frzn Concentrated Orange Juice −697 −414 +418 15 Strongly bearish
Fuel Oil-3% Usgc/3.5% Fob Rdam −5,179 +1,304 +5,179 32 Bearish
Gasoline Rbob +68,151 −3,314 −76,931 62 Bullish
Gold +179,548 −6,903 −204,902 48 Neutral
Gulf # 6 Fuel Oil Crack −49 −633 +59 78 Bullish
Gulf Coast Cbob Gas A2 Pl Rbob +945 −1,225 +1,043 51 Neutral
Gulf Jet Ny Heat Oil Spr +150 +150 −401 26 Bearish
Hedera Perp Style −544 −29 +0 57 Neutral
Henry Hub +254,734 −6,543 −255,709 87 Strongly bullish
Henry Hub Basis −15,406 −9,869 +16,739 30 Bearish
Henry Hub Index −25,891 −12,209 +25,839 43 Neutral
Henry Hub Last Day Fin −2,723 −4,527 −12,328 1 Strongly bearish
Henry Hub Penultimate Fin −828 +15,192 +1,371 77 Bullish
Henry Hub Penultimate Nat Gas −3,144 +810 −4,277 73 Bullish
Houston Ship Channel (Index) −151,776 +1,700 +150,560 28 Bearish
Hsc Fin Basis −100,364 +10,593 +95,429 57 Neutral
Iso Ne Mass Hub Da Off-Pk Fixd −4,106 −1,684 +4,041 39 Bearish
Iso Ne Mass Hub Da Peak −8,245 −1,985 +8,347 26 Bearish
Isobutane Opis Mt Belv Nontet −424 +250 +826 49 Neutral
Isone.h.internal_hb_mo_off_dap +10,369 +290 −9,907 89 Strongly bullish
Isone.h.internal_hub_mo_on_dap +10,843 +240 −10,568 88 Strongly bullish
Japanese Yen +102,321 +730 −103,167 79 Bullish
Lean Hogs −81,035 +1,326 +80,474 1 Strongly bearish
Litecoin Perp Style +1,555 +850 −1,362 100 Strongly bullish
Lithium Hydroxide −8,668 −769 +8,951 50 Neutral
Live Cattle +30,841 −4,044 −23,839 11 Strongly bearish
Lumber −5,625 +239 +5,259 2 Strongly bearish
Malin (Basis) −6,654 +291 −2,473 22 Bearish
Maryland Compliance Rec Tier1 −4,092 −550 +4,092 55 Neutral
Maryland Solar Rec +12,100 +0 −12,100 100 Strongly bullish
Mass Compliance Recs Class 1 −10,990 +0 +10,890 0 Strongly bearish
Mexican Peso +18,017 −2,826 −18,261 40 Neutral
Michcon Basis −16,655 −1,044 +14,842 43 Neutral
Michcon Financial Index −3,720 +180 +3,659 34 Bearish
Micro Bitcoin −3,156 +1,120 +541 25 Bearish
Micro E-Mini Russell 2000 Indx +49,259 −1,996 −238 94 Strongly bullish
Micro Ether −854 +477 +209 21 Bearish
Micro Gold −21,165 +2,203 +8,070 34 Bearish
Mid-C Day-Ahead Off-Peak +2,524 +121 −3,099 84 Strongly bullish
Mid-C Day-Ahead Peak +1,531 +2,996 −1,933 77 Bullish
Milk, Class Iii −12,755 −1,053 +14,773 2 Strongly bearish
Miso In. Day-Ahead Peak −2,313 −178 +1,954 54 Neutral
Miso In. Real-Time Off-Peak −3,217 +50 +3,451 57 Neutral
Miso Indiana Off-Peak −9,189 −164 +8,877 18 Strongly bearish
Miso Indiana Hub Rt Peak −5,220 −51 +5,161 43 Neutral
Miso.indiana.hub_month_off_dap −951 +120 +1,083 24 Bearish
Miso.indiana.hub_month_off_rtp −1,570 −110 +1,500 90 Strongly bullish
Miso.indiana.hub_month_on_dap −1,581 +120 +1,713 20 Bearish
Miso.indiana.hub_month_on_rtp −1,225 −120 +720 78 Bullish
Mont Belvieu Ethylene Fin +365 −815 −320 37 Bearish
Msci Eafe −2,389 −5,391 −2,864 65 Bullish
Msci Em Index +3,069 +12,111 −21,028 39 Bearish
Mt Belv Nat Gasoline Opis +92 +604 +1,162 31 Bearish
Mt Belv Norm Butane Opis +3,625 −170 −3,041 59 Neutral
Mt Belvieu Ethane Opis +3,287 −10 −3,255 41 Neutral
Nano Bitcoin +6,960 −227 +0 94 Strongly bullish
Nano Bitcoin Perp Style +26,472 −21,397 −13,586 65 Bullish
Nano Ether −339 +200 −26 17 Strongly bearish
Nano Ether Perp Style +56,801 +2,380 −10,543 95 Strongly bullish
Nano Solana −217 +62 −25 95 Strongly bullish
Nano Solana Perp Style +7,448 +886 +612 44 Neutral
Nano Xrp −216 +276 +0 100 Strongly bullish
Nano Xrp Perp Style −1,994 −575 +225 17 Strongly bearish
Nasdaq-100 Consolidated +45,216 −1,336 −64,674 91 Strongly bullish
Nat Gas Ice Ld1 −248,533 −12,405 +225,742 0 Strongly bearish
Nat Gas Ice Pen −72,244 +30,416 +72,117 71 Bullish
Nat Gas Ld1 For Gdd -Texok −20,865 −1,020 +21,065 0 Strongly bearish
Nat Gas Nyme −258,863 −3,699 +243,049 0 Strongly bearish
Nat Gas Tetco-Wla Index −13,130 −360 +12,686 36 Bearish
Nat Gaslne Opis Mt B Nontet Fp −3,084 +998 +4,092 17 Strongly bearish
Natural Gas Index: Ep San Juan +1,138 +30 −977 94 Strongly bullish
Nepool Dual Recs Class 1 −6,481 +0 +6,556 1 Strongly bearish
New Jersey Recs Class 2 V2027 +625 +0 −625 0 Strongly bearish
New Jersey Recs Class 2 V2028 −1,256 +0 +1,256 0 Strongly bearish
Ngpl Midcont Basis +0 −573 +1,699 65 Bullish
Ngpl Txok Basis −67,980 +344 +72,074 28 Bearish
Nikkei Stock Average Yen Denom +2,519 +242 +6,385 43 Neutral
Nj Compliance Recs Class 1 +3,788 +0 −3,789 0 Strongly bearish
Nj Srecs −12,714 +1,450 +12,714 24 Bearish
Nng Ventura Basis −1,936 +433 −13,444 65 Bullish
Non Fat Dry Milk −6,283 −160 +5,477 0 Strongly bearish
North Euro Hot-Roll Coil Steel +568 +22 −628 10 Strongly bearish
Nwp Rockies Fin Basis +18,898 +594 −17,877 84 Strongly bullish
Nwp Rockies Index −1,391 +0 +2,693 53 Neutral
Ny Harbor Ulsd +5,464 −4,207 −18,646 51 Neutral
Nyiso Zone A Da Off-Pk Fix Pr +564 +539 −1,130 46 Neutral
Nyiso Zone A Da Peak −2,025 +304 +1,581 33 Bearish
Nyiso Zone G Da Off-Pk −4,209 −141 +4,048 3 Strongly bearish
Nyiso Zone G Da Peak −4,130 −188 +3,561 26 Bearish
Nyiso Zone J Da Off-Pk Fixed +639 +0 −1,048 78 Bullish
Nyiso Zone J Da Peak +223 −230 −468 74 Bullish
Nyiso.centrl_month_off_dap +10,245 +295 −11,125 71 Bullish
Nyiso.centrl_month_on_dap +11,479 +295 −12,336 75 Bullish
Nyiso.hud Vl_month_off_dap −6,793 −480 +6,615 62 Bullish
Nyiso.hud Vl_month_on_dap −6,510 −510 +6,442 55 Neutral
Nyiso.n.y.c._month_off_dap +1,415 +0 −2,584 89 Strongly bullish
Nyiso.n.y.c._month_on_dap +1,585 +180 −2,506 99 Strongly bullish
Nyiso.west_month_off_dap −2,983 −55 +2,665 4 Strongly bearish
Nyiso.west_month_on_dap −3,875 −55 +3,724 39 Bearish
Nz Dollar −60,015 −2,325 +62,729 5 Strongly bearish
Pa Compliance Aecs Tier1 −7,387 −3,400 +7,407 1 Strongly bearish
Pa Solar Alter Energy Credit +15,200 +1,000 −15,200 100 Strongly bullish
Palladium −12,303 −2,462 +11,248 11 Strongly bearish
Palo Verde Da Off-Pk Fixed Pr +3,234 −288 −3,199 83 Strongly bullish
Palo Verde Da Peak +1,195 −192 −1,398 58 Neutral
Panhandle Basis +17,072 +294 −26,114 80 Bullish
Pennsylvania Aec Tier 2-V2027 −5,406 +50 +5,406 10 Strongly bearish
Pennsylvania Aec Tier 2-V2028 −6,909 −900 +6,909 0 Strongly bearish
Pg&E −2,468 +0 −1,193 12 Strongly bearish
Pg&E Citygate Fin Basis −1,577 +602 −3,647 12 Strongly bearish
Pgp Propylene (Pcw) Cal −2,725 −90 +2,591 19 Strongly bearish
Pjm Aep Dayton Da Peak +5,677 −313 −6,886 92 Strongly bullish
Pjm Aep Dayton Hub Da Off-Pk +6,999 −319 −8,067 96 Strongly bullish
Pjm Aep Dayton Rt Off-Pk Fixed +20,618 +40 −20,949 100 Strongly bullish
Pjm Aep Dayton Rt Peak Fixed +20,920 +750 −21,539 100 Strongly bullish
Pjm N. Il Hub Da Off-Pk +2,269 −69 −2,170 85 Strongly bullish
Pjm N. Il Hub Da Peak +2,961 −1 −2,918 95 Strongly bullish
Pjm N. Il Hub Rt Peak +26,297 −1,955 −26,673 91 Strongly bullish
Pjm Ni Hub Rt Off-Pk Fixed +46,515 −1,739 −46,693 74 Bullish
Pjm Pseg Dap +1,422 +915 −1,310 100 Strongly bullish
Pjm Tri-Recs Class 1 −18,937 +349 +18,937 20 Bearish
Pjm Western Hub Da Off-Pk +10,269 −1,416 −10,247 69 Bullish
Pjm Western Hub Da Peak +10,386 −1,014 −10,638 69 Bullish
Pjm Western Hub Rt Off +59,826 +2,642 −61,708 60 Neutral
Pjm Western Hub Rt Peak Mini −28,353 +2,760 +28,074 8 Strongly bearish
Pjm.aep-Dayton Hub_mo_off_dap +23,676 +1,580 −23,224 95 Strongly bullish
Pjm.aep-Dayton Hub_mo_off_rtp −8,837 −674 +8,913 0 Strongly bearish
Pjm.aep-Dayton Hub_mo_on_dap +21,216 +1,685 −20,449 95 Strongly bullish
Pjm.aep-Dayton Hub_mo_on_rtp −1,122 −769 +1,094 11 Strongly bearish
Pjm.aep_month_off_dap −3,201 −325 +2,662 36 Bearish
Pjm.aep_month_on_dap −3,201 −325 +2,647 35 Bearish
Pjm.aps_month_off_dap +602 −70 −1,602 61 Bullish
Pjm.aps_month_on_dap +826 −70 −1,841 21 Bearish
Pjm.atsi_month_off_dap +5,967 −330 −5,949 94 Strongly bullish
Pjm.atsi_month_on_dap +5,967 −330 −5,949 94 Strongly bullish
Pjm.bge_month_off_dap +835 −230 −1,475 71 Bullish
Pjm.bge_month_on_dap +845 −230 −1,450 70 Bullish
Pjm.dom_month_off_dap −1,220 −60 +1,246 17 Strongly bearish
Pjm.dom_month_on_dap −1,220 −60 +1,321 15 Strongly bearish
Pjm.jcpl_month_off_dap −1,820 −385 +385 0 Strongly bearish
Pjm.jcpl_month_on_dap −3,130 −310 +2,095 0 Strongly bearish
Pjm.meted_month_off_dap −476 +0 −668 67 Bullish
Pjm.meted_month_on_dap −476 +0 −638 67 Bullish
Pjm.n Illinois Hub_mo_off_dap +3,010 +435 −2,816 67 Bullish
Pjm.n Illinois Hub_mo_off_rtp +2,764 −890 −2,951 45 Neutral
Pjm.n Illinois Hub_mo_on_dap +3,070 +435 −2,876 31 Bearish
Pjm.n Illinois Hub_mo_on_rtp +1,175 +140 −1,287 51 Neutral
Pjm.peco_month_off_dap +15,813 +650 −16,097 43 Neutral
Pjm.peco_month_on_dap +16,133 +1,040 −16,497 45 Neutral
Pjm.penelec_month_on_dap +3,890 −40 −4,576 24 Bearish
Pjm.pepco_month_off_dap −2,324 +150 +1,716 72 Bullish
Pjm.pepco_month_on_dap −2,324 +150 +1,716 71 Bullish
Pjm.ppl_month_off_dap −755 −155 +719 16 Strongly bearish
Pjm.ppl_month_on_dap −1,390 −305 +1,391 13 Strongly bearish
Pjm.pseg_month_off_dap +1,541 +855 −1,564 75 Bullish
Pjm.western Hub Dap −9,425 −3,734 +9,434 62 Bullish
Pjm.western Hub_month_off_dap −15,929 −2,969 +16,138 69 Bullish
Pjm.western Hub_month_off_rtp +2,398 +1,315 −2,699 33 Bearish
Pjm.western Hub_month_on_rtp −2,401 +1,365 +2,600 36 Bearish
Platinum +6,665 −2,629 −9,256 32 Bearish
Polkadot Perp Style −436 +7 +0 46 Neutral
Propane +1,567 +206 −1,727 88 Strongly bullish
Propane Argus Cif Ara Mini −3,905 +570 +3,794 12 Strongly bearish
Propane Argus Far East Mini −1,117 −371 +672 34 Bearish
Propane Argus Saudi Cp Fp +199 −83 −1,130 19 Strongly bearish
Propane Non-Ldh Mt Bel +3,356 +366 −3,309 11 Strongly bearish
Propane Opis Conway Inwell Fp +532 −889 −615 59 Neutral
Propane Opis Mt Belv Nontet Fp +18,484 −1,724 −17,993 31 Bearish
Propane Opis Mt Belvieu Tet Fp −13,347 +619 +13,470 57 Neutral
Propane,opis Mt B Tet/Afei −1,069 +19 +1,289 24 Bearish
Rex Zone 3 Basis +29,828 +247 −32,540 50 Neutral
Rex Zone 3 Index +9,871 −496 −9,296 78 Bullish
Rggi V2026 +4,883 −4,350 −4,916 41 Neutral
Rggi V2027 −11,593 −1,253 +11,585 29 Bearish
Rough Rice +4,337 +504 −5,800 89 Strongly bullish
Russell 2000 Annual Dividend −4,917 −271 +4,807 0 Strongly bearish
Russell E-Mini −23,654 +12,425 +14,368 66 Bullish
S&P 500 Annual Dividend Index +67,019 −3,512 −68,524 19 Strongly bearish
S&P 500 Consolidated −122,362 +10,299 +1,118 55 Neutral
S&P 500 Quarterly Dividend Ind +7,726 −509 −7,708 76 Bullish
Silver +21,251 +1,548 −34,756 43 Neutral
So African Rand +11,146 −1,690 −12,508 57 Neutral
Socal (Index) +1,214 +0 −2,894 25 Bearish
Socal Border Fin Basis +696 +648 −840 10 Strongly bearish
Sofr-1m +101,373 +14,984 −101,095 95 Strongly bullish
Sofr-3m −2,683,811 −89,015 +2,684,629 11 Strongly bearish
Sol +665 −264 −690 40 Neutral
Sonat +3,529 −369 −8,266 43 Neutral
Soybean Meal +133,036 −45,769 −151,853 71 Bullish
Soybean Oil +52,538 −9,767 −58,545 52 Neutral
Soybeans +163,618 −40,501 −143,478 75 Bullish
Sp15 Fin Da Peak Fixed −11,190 +261 +10,805 34 Bearish
Steel-Hrc +4,793 −807 −5,153 74 Bullish
Stellar Perp Style −1,656 −225 +0 0 Strongly bearish
Sugar No. 11 +185,473 −16,123 −229,348 82 Strongly bullish
Sui Perp Style −1,782 −406 +0 0 Strongly bearish
Swiss Franc −16,589 +3,460 +29,792 67 Bullish
Tco Basis −739 −1,734 +2,499 66 Bullish
Tetco M2 Basis (Receipts) +44,422 +1,377 −49,775 100 Strongly bullish
Tetco M2 Index (Receipts) +2,904 +0 −3,003 70 Bullish
Tetco M3 Basis +831 +2,109 −5,029 44 Neutral
Tetco M3 Index −1,413 +0 +46 24 Bearish
Tetco Wla Basis −20,442 +0 +20,973 100 Strongly bullish
Tgt Zone 1 Basis +4,448 +2,034 +3,158 57 Neutral
Tgt Zone 1 Index Diff +3,267 −30 −2,660 44 Neutral
Transco Leidy Basis +13,367 +2,249 −13,062 99 Strongly bullish
Transco Station 85-Zone 4 Basi +20,357 +661 −25,796 19 Strongly bearish
Transco Stn 85 Monthly Index +5,916 −758 −4,447 56 Neutral
Transco Zone 5 South Basis +4,228 −1,635 −5,934 21 Bearish
Transco Zone 6 Basis −10,960 +981 +12,866 37 Bearish
Transco Zone 6 Monthly Index −2,775 +868 +3,360 27 Bearish
Tx Rec Crs V26 Back Half −5,285 +5 +5,292 15 Strongly bearish
Tx Rec Crs V27 Back Half −4,278 +0 +4,278 3 Strongly bearish
Tx Rec Crs V27 Front Half −2,136 +0 +2,177 47 Neutral
Tx Rec Crs V28 Back Half −2,181 −280 +2,196 0 Strongly bearish
Tx Rec Crs V28 Front Half −3,336 −250 +3,365 0 Strongly bearish
Tx Rec Crs V29 Back Half −1,809 +25 +1,809 39 Bearish
Tx Rec Crs V29 Front Half −1,186 −75 +1,192 36 Bearish
Tx Rec Crs V30 Back Half −1,697 +0 +1,709 21 Bearish
Tx Rec Crs V30 Front Half −1,398 +0 +1,424 12 Strongly bearish
Tx Rec Crs V31 Back Half −950 +0 +965 26 Bearish
Tx Rec Crs V31 Front Half −652 +0 +647 18 Strongly bearish
Ultra Ust 10y −136,444 −34,239 +203,871 60 Bullish
Ultra Ust Bond −361,932 +21,646 +332,373 35 Bearish
Usd Index +14,190 +69 −16,414 50 Neutral
Usd Malaysian Crude Palm Oil C −22 +1,942 +2 73 Bullish
Usgc Hsfo (Platts) +2,461 −4,775 −2,433 17 Strongly bearish
Usgc Hsfo-Platts/Brent 1st Ln −622 +3,334 +657 80 Bullish
Ust 10y Note −962,359 +19,179 +927,242 17 Strongly bearish
Ust 2y Note −1,002,544 +6,932 +963,912 43 Neutral
Ust 5y Note −1,275,370 −246,314 +1,242,885 55 Neutral
Ust Bond −9,097 +10,041 −63,054 80 Strongly bullish
Vix Futures −76,916 +550 +77,424 33 Bearish
Waha Fin Basis −39,301 +325 +38,860 45 Neutral
Waha Index −12,292 −3,002 +13,734 48 Neutral
Washington Carbon All V2026 +1,411 +268 −1,353 100 Strongly bullish
Wheat-Hrspring −8,938 −5,774 +7,757 37 Bearish
Wheat-Hrw −8,176 −3,315 +15,084 47 Neutral
Wheat-Srw −62,538 −11,776 +64,325 35 Bearish
Wti Houston Argus/Wti Tr Mo −58,729 +7,360 +72,752 26 Bearish
Wti Crude Oil 1st Line −2,650 +3,912 +1,959 12 Strongly bearish
Wti Financial Crude Oil +42,317 −6,778 −21,598 85 Strongly bullish
Wti Midland Argus Vs Wti Trade +3,994 −5,040 −2,542 20 Bearish
Wti-Physical +80,289 +5,946 −111,277 12 Strongly bearish
Xrp +1,465 +185 −1,322 96 Strongly bullish

Reading the COT report

Speculators (non-commercials) are funds and large traders positioned for profit. Commercials hedge real exposure, such as an exporter's currency income, and are often positioned against the crowd at turning points.

The COT Index places the speculators' current net position within its range over the last three years: 0 is the most short and 100 the most long they have been. Readings near either end mean positioning is stretched; they say nothing on their own about when price will turn.

Positions are taken on Tuesday and published by the CFTC on Friday, so the report is always a few days old. Raw data: CFTC Commitments of Traders.

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Market data for information and education, not investment advice. Trading carries a high risk of loss.