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S&P500 Mini Non-Commercial Speculator Positions:
Large stock market speculators sharply boosted their bullish net positions in the S&P500 Mini futures markets this week in response to the selloffs of the markets, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of S&P500 Mini futures, traded by large speculators and hedge funds, totaled a net position of 286,214 contracts in the data reported through Tuesday February 6th. This was a weekly increase of 113,370 contracts from the previous week which had a total of 172,844 net contracts.
This data shows that speculators rushed in to buy S&P500 Mini futures on Tuesday following last Friday’s and Monday’s sharp drops in the stock markets. The surge in Tuesday’s buying pushed the overall bullish level to the highest standing since March 10th of 2009 when the net positions totaled +333,271 contracts.
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S&P500 Mini Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -253,945 contracts on the week. This was a weekly decline of -75,852 contracts from the total net of -178,093 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SPY ETF, which tracks the price of S&P500 Index, closed at approximately $269.13 which was a fall of $-12.63 from the previous close of $281.76, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article By CountingPips.com – Receive our weekly COT Reports by Email