2-Year T-Note COT Report
CFTC Commitments of Traders · report date 2026-07-21 (released Jul 24, 2026) · next report expected Jul 31, 2026 (regular cycle; see the release schedule for holiday shifts)
As of the Jul 21, 2026 COT report, large speculators are net short 1,154,597 2-Year T-Note futures contracts (up 2,880 week-over-week), commercials are net long 1,087,806, and open interest is 4,335,075 contracts.
-1,154,597
Large speculators net
1,087,806
Commercials net
69.9
COT index (3-year)
4,335,075
Open interest
Positioning — week of 2026-07-21
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Large speculators | -1,154,597 | +2,880 | -26.6% | 100.0 | 100.0 | 69.9 |
| Commercials | 1,087,806 | +3,546 | 25.1% | 0.6 | 7.2 | 34.4 |
| Small traders | 66,791 | -6,426 | 1.5% | 37.2 | 24.1 | 16.6 |
Net = long − short (spread positions cancel). COT index: 0 = most net-short of the lookback, 100 = most net-long. How it's computed.
Net positions since 1990
Traders in Financial Futures breakdown — week of 2026-07-21
| Category | Net position | Weekly change |
|---|---|---|
| Dealer/intermediary | -463,713 | -4,831 |
| Asset manager | 1,820,888 | -51,927 |
| Leveraged funds | -1,595,128 | +76,638 |
| Other reportables | 171,162 | -13,454 |
| Small traders | 66,791 | -6,426 |
Recent history
| Report date | Open interest | Large spec net | Δ | Commercial net | Δ | Small trader net |
|---|---|---|---|---|---|---|
| 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 |
| 2026-04-21 | 4,696,151 | -1,743,353 | -39,547 | 1,660,126 | +34,316 | 83,227 |
| 2026-04-14 | 4,697,992 | -1,703,806 | +8,209 | 1,625,810 | -13,168 | 77,996 |
| 2026-04-07 | 4,705,605 | -1,712,015 | -74,691 | 1,638,978 | +66,905 | 73,037 |
| 2026-03-31 | 4,722,869 | -1,637,324 | +855 | 1,572,073 | +16,306 | 65,251 |
| 2026-03-24 | 4,770,492 | -1,638,179 | -155,512 | 1,555,767 | +173,393 | 82,412 |
| 2026-03-17 | 4,737,969 | -1,482,667 | -144,431 | 1,382,374 | +151,175 | 100,293 |
| 2026-03-10 | 4,626,984 | -1,338,236 | +305 | 1,231,199 | -1,710 | 107,037 |
| 2026-03-03 | 4,492,471 | -1,338,541 | +9,495 | 1,232,909 | -12,968 | 105,632 |
| 2026-02-24 | 4,642,084 | -1,348,036 | -113,628 | 1,245,877 | +120,162 | 102,159 |
| 2026-02-17 | 4,716,741 | -1,234,408 | +55,279 | 1,125,715 | -52,368 | 108,693 |
| 2026-02-10 | 4,693,102 | -1,289,687 | +57,915 | 1,178,083 | -69,697 | 111,604 |
| 2026-02-03 | 4,645,002 | -1,347,602 | -128,603 | 1,247,780 | +150,096 | 99,822 |
| 2026-01-27 | 4,609,078 | -1,218,999 | +6,123 | 1,097,684 | -18,084 | 121,315 |
Full history, no login: CSV (1990-06-29 → 2026-07-21) · JSON
Contract facts
(CONTRACTS OF $200,000 FACE VALUE)
Contract unit (CFTC)
ZT
Ticker
CBOT
Exchange
042601
CFTC contract code
FAQ
- Are large speculators long or short 2-Year T-Note futures?
- As of the 2026-07-21 COT report, large speculators (non-commercial traders) are net short 1,154,597 contracts in 2-Year T-Note futures.
- How current is this 2-Year T-Note COT data?
- The latest report is dated 2026-07-21 (positions as of that Tuesday's close), published by the CFTC on 2026-07-24. 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 2026-07-21) is free at /data/cot/2-year-treasury.csv — no login, no cap.
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2-Year T-Note CSV
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Ultra UST 10Y COT
Source: CFTC Commitments of Traders, legacy futures-only report, contract code 042601. Dataset coverage 1990-06-29 → 2026-07-21. Methodology.