COT Extremes - Positioning at the Edge of Its 3-Year Range
Positions as of Tuesday 2026-10-20. Large-speculator net position vs. its own 156-week range.
A COT index of 100 means the most net-long reading in three years; 0 the most net-short. Extremes are conditions, not signals - how to read this.
Most net-long (3-year COT index ≥ 90)
| Market | Open interest | Large spec net | Δ w/w | COT index 3y |
|---|---|---|---|---|
| Maryland Solar Rec | 81,431 | 12,100 | +2,000 | 100.0 |
| Crude Diff-Wcs Houston/WTI 1St | 68,639 | 16,921 | +4,365 | 100.0 |
| CME Milk IV | 15,639 | 6,981 | +135 | 100.0 |
| 30-Day Fed Funds | 2,766,665 | 307,293 | +227,102 | 99.5 |
| Sugar No. 11 | 1,210,639 | 228,816 | +1,842 | 99.3 |
| Pa Solar Alter Energy Credit | 26,070 | 14,200 | +0 | 96.9 |
| Soybean Meal | 635,401 | 206,000 | -11,302 | 94.6 |
| Calif Carbon Current Auction | 54,260 | -8,491 | +891 | 94.1 |
| 2-Year T-Note | 4,533,571 | -856,783 | +54,796 | 93.2 |
| Soybeans | 1,093,612 | 246,596 | -24,503 | 92.7 |
| E-mini Nasdaq-100 | 272,462 | 50,726 | +2,203 | 92.4 |
Most net-short (3-year COT index ≤ 10)
| Market | Open interest | Large spec net | Δ w/w | COT index 3y |
|---|---|---|---|---|
| Milk, Class III | 35,068 | -11,495 | +1,610 | 9.5 |
| Propane Non-Ldh Mt Bel | 32,966 | 2,339 | -739 | 9.2 |
| Emini Russell 1000 Value Index | 34,666 | -13,622 | +313 | 8.0 |
| Live Cattle | 289,575 | 30,730 | +4,404 | 7.9 |
| New Zealand Dollar | 131,413 | -58,149 | -11,148 | 7.3 |
| Gulf Jet Ny Heat Oil Spr | 12,111 | 0 | +0 | 7.0 |
| Tetco M3 Index | 61,414 | -2,223 | +120 | 3.7 |
| Lean Hogs | 291,717 | -76,730 | +5,057 | 2.7 |
| Euro FX | 877,940 | -134,524 | +3,049 | 1.0 |