S&P500 Mini Speculators reduced bullish bets for 1st time in 5 weeks

July 9, 2018

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S&P500 Mini Non-Commercial Speculator Positions:

Large stock market speculators cut back on their bullish net positions in the S&P500 Mini futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday due to the 4th of July holiday.

The non-commercial futures contracts of S&P500 Mini futures, traded by large speculators and hedge funds, totaled a net position of 167,981 contracts in the data reported through Tuesday July 3rd. This was a weekly decline of -29,205 contracts from the previous week which had a total of 197,186 net contracts.

Speculative bets for the SP500 mini contract had risen for four straight weeks and by a total of 73,107 contracts over that time-span before last week’s retreat. The current net position remains above the +160,000 net contract level for a fifth week.


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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 -265,987 contracts on the week. This was a weekly advance of 9,277 contracts from the total net of -275,264 contracts reported the previous week.

SPY ETF:

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 $270.9 which was a decline of $-0.7 from the previous close of $271.6, 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).

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