Are large speculators long or short 2-Year T-Note futures?

As of the 2026-10-20 COT report, large speculators (non-commercial traders) are net short 856,783 contracts in 2-Year T-Note futures.

What is the leveraged funds position in 2-Year T-Note futures?

As of the 2026-10-20 COT report, leveraged funds traders are net short 1,285,548 contracts (771,136 long, 2,056,684 short) in 2-Year T-Note futures. The week-by-week table on this page lists the last 26 reports.

How current is this 2-Year T-Note COT data?

The latest report is dated 2026-10-20 (positions as of that Tuesday's close), published by the CFTC on 2026-10-23. This page updates within minutes of each weekly release.

Where can I download 2-Year T-Note COT history?

The full weekly series (1990-06-29 to 2026-10-20) is free at /data/cot/2-year-treasury.csv - no login, no cap.

2-Year T-Note COT Report

CFTC Commitments of Traders · positions as of Tuesday 2026-10-20, released Oct 23, 2026 (the CFTC reports each Tuesday's close three days later) · next release Oct 30, 2026 (regular cycle; see the release schedule for holiday shifts)

Bearish tilt79/100

2-Year T-Note positioning leans bearish - commercials selling (26w index 7), speculators crowded long (3y index 93).

How this read is built

Commercials (hedgers) are net long and sit near the bottom of their 26-week range (COT index 7) - a bearish tilt in the traditional read.
Large speculators are net short near the top of their 3-year range (index 93) - a crowded long, which historically leans bearish for the setup.

A description of how traders are positioned versus their own history - the standard Commitments of Traders interpretation, computed identically for every market. It is not a price forecast, a trading signal, or advice. How traders use positioning · how the read is computed.

As of the Oct 20, 2026 COT report, large speculators are net short 856,783 2-Year T-Note futures contracts (up 54,796 week-over-week), commercials are net long 815,655, and open interest is 4,533,571 contracts. Leveraged funds were net short 1,285,548 contracts as of Oct 20, 2026 (up 81,860 week-over-week), holding 771,136 long and 2,056,684 short.

-856,783

Large speculators net · 52w

815,655

Commercials net

93.2

COT index (3-year)

4,533,571

Open interest

Cite this data

FuturesBench, "2-Year T-Note COT Report," data as of 2026-10-20.
https://futuresbench.com/cot/2-year-treasury/#net-position
Source: CFTC Commitments of Traders (public domain).
CSV: https://futuresbench.com/data/cot/2-year-treasury.csv

Net positions since 19901Y5YMax

Embed this chart

<iframe src="https://futuresbench.com/embed/cot/2-year-treasury/" width="100%" height="560" frameborder="0" loading="lazy" title="2-Year T-Note COT Report chart - FuturesBench"></iframe>

Positioning - as of Tuesday 2026-10-20

Trader category	Net position	Weekly change	% of open interest	COT index 26w	COT index 52w	COT index 3y
Large speculators	-856,783	+54,796	-18.9%	92.9	93.2	93.2
Commercials	815,655	-60,753	18.0%	7.3	7.0	7.0
Small traders	41,128	+5,957	0.9%	51.2	25.9	19.2

Net = long − short (spread positions cancel). COT index: 0 = most net-short of the lookback, 100 = most net-long. How it's computed.

Traders in Financial Futures report - positions as of Tue 2026-10-20

Trader category	Net position	Weekly change	% of open interest	COT index 26w	COT index 52w	COT index 3y
Dealer/intermediary	-494,117	-12,396	-10.9%	37.2	27.6	17.7
Asset manager	1,723,580	-72,286	38.0%	17.1	12.6	40.4
Leveraged funds	-1,285,548	+81,860	-28.4%	87.4	89.4	92.2
Other reportables	14,957	-3,135	0.3%	0.0	0.0	9.6
Small traders	41,128	+5,957	0.9%	51.2	25.9	19.2

Full Traders in Financial Futures report history: CSV · switch the chart above to this report family for the full series.

2-Year T-Note leveraged funds positions, week by week

Leveraged funds long, short and net position in 2-Year T-Note futures for the last 26 weekly COT reports (positions as of each Tuesday), from the CFTC Traders in Financial Futures futures-only report. Short = long minus net; spread positions are excluded from both.

Report date	Leveraged funds long	Leveraged funds short	Leveraged funds net	Weekly change	Asset managers net	Dealers net
Oct 20, 2026	771,136	2,056,684	-1,285,548	+81,860	1,723,580	-494,117
Oct 13, 2026	715,286	2,082,694	-1,367,408	-109,924	1,795,866	-481,721
Oct 6, 2026	693,301	1,950,785	-1,257,484	-91,504	1,679,087	-508,451
Sep 29, 2026	725,857	1,891,837	-1,165,980	+184,760	1,638,478	-591,496
Sep 22, 2026	725,522	2,076,262	-1,350,740	-56,165	1,770,085	-523,460
Sep 15, 2026	660,233	1,954,808	-1,294,575	-4,096	1,732,731	-536,280
Sep 8, 2026	585,711	1,876,190	-1,290,479	-22,445	1,621,223	-443,848
Sep 1, 2026	615,140	1,883,174	-1,268,034	-35,281	1,596,436	-434,362
Aug 25, 2026	627,120	1,859,873	-1,232,753	+10,251	1,608,856	-451,596
Aug 18, 2026	638,468	1,881,472	-1,243,004	+116,517	1,620,425	-503,496
Aug 11, 2026	618,328	1,977,849	-1,359,521	-25,340	1,680,389	-480,452
Aug 4, 2026	614,448	1,948,629	-1,334,181	+230,113	1,693,289	-502,145
Jul 28, 2026	456,470	2,020,764	-1,564,294	+30,834	1,845,012	-481,870
Jul 21, 2026	358,297	1,953,425	-1,595,128	+76,638	1,820,888	-463,713
Jul 14, 2026	389,534	2,061,300	-1,671,766	+84,762	1,872,815	-458,882
Jul 7, 2026	339,905	2,096,433	-1,756,528	-7,653	1,891,993	-363,665
Jun 30, 2026	378,363	2,127,238	-1,748,875	+38,677	1,960,010	-426,888
Jun 23, 2026	350,311	2,137,863	-1,787,552	-82,735	2,017,329	-484,045
Jun 16, 2026	412,781	2,117,598	-1,704,817	-23,875	1,824,345	-377,132
Jun 9, 2026	359,249	2,040,191	-1,680,942	+132,069	1,879,104	-419,923
Jun 2, 2026	362,038	2,175,049	-1,813,011	-40,454	1,958,770	-329,619
May 26, 2026	365,442	2,137,999	-1,772,557	+106,075	1,991,305	-379,417
May 19, 2026	417,004	2,295,636	-1,878,632	+69,197	2,140,676	-424,174
May 12, 2026	407,820	2,355,649	-1,947,829	+86,646	2,116,349	-369,528
May 5, 2026	414,177	2,448,652	-2,034,475	+83,533	2,223,328	-381,371
Apr 28, 2026	409,828	2,527,836	-2,118,008	-12,035	2,339,992	-432,826

Every week back to 2006: 2-Year T-Note TFF CSV.

Recent history

Report date	Open interest	Large spec net	Δ	Commercial net	Δ	Small trader net
2026-10-20	4,533,571	-856,783	+54,796	815,655	-60,753	41,128
2026-10-13	4,554,153	-911,579	-58,675	876,408	+66,555	35,171
2026-10-06	4,485,811	-852,904	-60,880	809,853	+57,836	43,051
2026-09-29	4,530,145	-792,024	+115,041	752,017	-109,870	40,007
2026-09-22	4,539,374	-907,065	-51,712	861,887	+53,937	45,178
2026-09-15	4,433,736	-855,353	+73,754	807,950	-73,625	47,403
2026-09-08	4,346,314	-929,107	-46,589	881,575	+47,475	47,532
2026-09-01	4,348,838	-882,518	-21,222	834,100	-30,624	48,418
2026-08-25	4,678,195	-861,296	+66,041	864,724	-23,592	-3,428
2026-08-18	4,432,451	-927,337	+93,706	888,316	-84,919	39,021
2026-08-11	4,377,812	-1,021,043	-16,815	973,235	+6,948	47,808
2026-08-04	4,400,315	-1,004,228	+120,346	966,287	-110,212	37,941
2026-07-28	4,406,588	-1,124,574	+30,023	1,076,499	-11,307	48,075
2026-07-21	4,335,075	-1,154,597	+2,880	1,087,806	+3,546	66,791
2026-07-14	4,465,199	-1,157,477	+103,531	1,084,260	-98,213	73,217
2026-07-07	4,460,937	-1,261,008	+26,573	1,182,473	-36,802	78,535
2026-06-30	4,490,379	-1,287,581	+31,265	1,219,275	-28,437	68,306
2026-06-23	4,536,973	-1,318,846	-48,339	1,247,712	+49,303	71,134
2026-06-16	4,303,653	-1,270,507	-50,669	1,198,409	+42,133	72,098
2026-06-09	4,276,371	-1,219,838	+130,350	1,156,276	-159,482	63,562
2026-06-02	4,331,344	-1,350,188	-94,942	1,315,758	+115,085	34,430
2026-05-26	4,960,871	-1,255,246	+305,591	1,200,673	-297,469	54,573
2026-05-19	4,938,650	-1,560,837	+41,775	1,498,142	-22,617	62,695
2026-05-12	4,796,510	-1,602,612	+70,717	1,520,759	-69,550	81,853
2026-05-05	4,747,995	-1,673,329	+35,934	1,590,309	-35,370	83,020
2026-04-28	4,737,135	-1,709,263	+34,090	1,625,679	-34,447	83,584

Full history, no login: CSV (1990-06-29 → 2026-10-20) · JSON

Contract facts

(CONTRACTS OF $200,000 FACE VALUE)

Contract unit (CFTC)

Ticker

CBOT

Exchange

042601

CFTC contract code

FAQ

Are large speculators long or short 2-Year T-Note futures?: As of the 2026-10-20 COT report, large speculators (non-commercial traders) are net short 856,783 contracts in 2-Year T-Note futures.
What is the leveraged funds position in 2-Year T-Note futures?: As of the 2026-10-20 COT report, leveraged funds traders are net short 1,285,548 contracts (771,136 long, 2,056,684 short) in 2-Year T-Note futures. The week-by-week table on this page lists the last 26 reports.
How current is this 2-Year T-Note COT data?: The latest report is dated 2026-10-20 (positions as of that Tuesday's close), published by the CFTC on 2026-10-23. This page updates within minutes of each weekly release.
Where can I download 2-Year T-Note COT history?: The full weekly series (1990-06-29 to 2026-10-20) is free at /data/cot/2-year-treasury.csv - no login, no cap.

Learn: how to read this report · commercials vs non-commercials · glossary

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Source: CFTC Commitments of Traders, legacy futures-only report, contract code 042601. Dataset coverage 1990-06-29 → 2026-10-20. Methodology.