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Analysis
COT positioning
How large speculators are positioned in currency, metal, oil, index and bond futures, from the CFTC’s weekly Commitments of Traders report: who is net long, who is net short, and how stretched that is compared with the past year.
Positions as of Tuesday 20 October 2026, published by the CFTC the following Friday · large speculators (non-commercial traders), futures only
Currencies
MARKET
NET (CONTRACTS)
WEEKLY CHANGE
LONG
52-WEEK RANGE
26 WEEKS
Euro (EUR)
−134,524-15.3% of open interest
+3,049
39%
most short1most long
British pound (GBP)
−80,420-31.7% of open interest
+26,544
29%
most short29most long
Japanese yen (JPY)
+69,878+18.4% of open interest
+19,671
61%
most short82most long
Swiss franc (CHF)
−18,150-13.3% of open interest
+3,928
38%
most short100most long
Canadian dollar (CAD)
−74,709-19.5% of open interest
+20,056
37%
most short48most long
Australian dollar (AUD)
−127,292-38.2% of open interest
−9,993
30%
most short0most long
New Zealand dollar (NZD)
−58,149-44.2% of open interest
−11,148
21%
most short9most long
US dollar index (DXY)
+15,044+30.5% of open interest
+2,125
65%
most short81most long
Commodities
MARKET
NET (CONTRACTS)
WEEKLY CHANGE
LONG
52-WEEK RANGE
26 WEEKS
Gold
+199,865+49.7% of open interest
−8,014
86%
most short47most long
Silver
+19,795+17.4% of open interest
−2,836
70%
most short0most long
Copper
+57,397+17.5% of open interest
−11,123
71%
most short36most long
WTI crude oil
+89,325+4.9% of open interest
−11,018
58%
most short21most long
Indices and bonds
MARKET
NET (CONTRACTS)
WEEKLY CHANGE
LONG
52-WEEK RANGE
26 WEEKS
S&P 500 (E-mini)
−142,671-7.4% of open interest
−1,676
38%
most short34most long
Nasdaq 100 (E-mini)
+50,726+18.6% of open interest
+2,203
71%
most short92most long
US 10-year Treasury note
−964,293-16.4% of open interest
+23,809
30%
most short5most long
Source: U.S. Commodity Futures Trading Commission, Commitments of Traders (legacy report, futures only), calculated by Praevis. Net = long minus short contracts held by large speculators. The 52-week range shows where this week’s net sits between its most short (0) and most long (100) of the past year; a reading near either end means positioning is stretched, not that a turn is due. Updated within hours of each Friday release.
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Praevis publishes education and market commentary. Nothing here is investment advice. Trading forex, stocks and CFDs carries a high level of risk and may not be suitable for all investors.