COT report: speculator positioning
Every Friday the CFTC publishes how many contracts large speculators hold long and short in each future. Here it is by market, with the weekly change and the COT index.
Report of October 13, 2026 (Tuesday data, published Friday)
| Market | Net position | Weekly change | % of open interest | COT index (52 wk) |
|---|---|---|---|---|
| Equity indices | ||||
| E-mini S&P 500 ES | -408,726 | +6,361 | -21.2% | 38 |
| E-mini Nasdaq 100 NQ | -11,593 | +7,619 | -4.1% | 73 |
| E-mini Dow Jones YM | 2,809 | +6,976 | +3.1% | 100 |
| E-mini Russell 2000 RTY | -91,647 | +13,670 | -20.6% | 22 |
| Interest rates | ||||
| 10-Year Treasury Note ZN | -2,205,937 | -66,152 | -37.9% | 33 |
| 30-Year Treasury Bond ZB | -154,020 | +35,658 | -8.3% | 100 |
| Currencies | ||||
| Euro 6E | -68,001 | -23,740 | -7.8% | 0 |
| Japanese Yen 6J | -33,673 | -8,630 | -9% | 59 |
| British Pound 6B | 10,313 | -2,119 | +3.8% | 24 |
| Swiss Franc 6S | -14,941 | -3,591 | -10.9% | 7 |
| Australian Dollar 6A | 50,591 | -3,542 | +14.9% | 78 |
| Canadian Dollar 6C | -88,112 | -8,487 | -23.3% | 20 |
| Mexican Peso 6M | 63,564 | -11,363 | +22.8% | 59 |
| New Zealand Dollar 6N | -11,619 | -10,832 | -9.3% | 55 |
| Brazilian Real 6L | 27,614 | +218 | +19.9% | 100 |
| Crypto | ||||
| Bitcoin (CME) BTC | -5,844 | +1,008 | -28.2% | 96 |
| Energy | ||||
| WTI Crude Oil CL | 100,343 | +1,283 | +5.3% | 31 |
| Natural Gas NG | -233,578 | +2,861 | -13.4% | 2 |
| Metals | ||||
| Gold GC | 207,879 | -2,456 | +52.4% | 55 |
| Silver SI | 22,631 | -522 | +20.9% | 3 |
| Copper HG | 68,520 | -914 | +21.8% | 56 |
| Grains | ||||
| Corn ZC | 358,367 | -94,106 | +19.4% | 72 |
| Wheat ZW | -17,606 | -1,558 | -3.5% | 64 |
| Soybeans ZS | 271,099 | -2,797 | +25.3% | 96 |
Net position = contracts long − short. Indices, rates, FX and bitcoin: leveraged funds (TFF report). Energy, metals and grains: non-commercials (Legacy report). Futures only.
How to read the COT report
Who is who
Speculators (leveraged funds or non-commercials) trade for price gains. Commercials and asset managers hedge or invest long term. The report splits their positions.
The COT index
Places today's net position in its 52-week range: 0 is the most bearish of the year, 100 the most bullish. Extremes (below 10 or above 90) point to crowded positioning.
Context, not a signal
The COT arrives three days late and moves slowly. Use it to know which way the market is loaded before a release, not to enter today. An extreme can last for weeks.
Frequently asked questions
What is the COT report?
The Commitments of Traders is a weekly CFTC (US futures regulator) report that breaks down open positions in each contract by type of participant: speculators, commercials, asset managers and others.
When is it published?
Fridays at 3:30 p.m. New York time, with positions as of the previous Tuesday's close. After a US holiday it moves to the next business day.
What is the difference between the Legacy and TFF reports?
Legacy splits participants into commercials and non-commercials and is the classic for commodities. TFF (Traders in Financial Futures) is finer for indices, bonds and currencies: it separates dealers, asset managers, leveraged funds and others.
Is the COT useful for day trading?
Not directly. It is weekly context: if speculators sit at a long extreme, a bad number can trigger sharper forced selling. For intraday, use it as background next to the economic calendar and your plan.
Source: CFTC Commitments of Traders (Legacy and Traders in Financial Futures, futures only). Calculations by Jornalo. Information, not financial advice.
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