June 7th – By CountingPips.com – Receive our weekly COT Reports by Email
VIX Non-Commercial Speculator Positions:
Large volatility speculators decreased their bearish net positions in the VIX futures markets this week, 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 VIX futures, traded by large speculators and hedge funds, totaled a net position of -85,510 contracts in the data reported through Tuesday June 4th. This was a weekly change of 20,317 net contracts from the previous week which had a total of -105,827 net contracts.
The week’s net position was the result of the gross bullish position (longs) advancing by 12,272 contracts (to a weekly total of 92,573 contracts) in addition to the gross bearish position (shorts) dropping by -8,045 contracts for the week (to a total of 178,083 contracts).
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The VIX speculator position had risen to an all-time high bearish level on April 30th with a total of -180,359 contracts before bearish sentiment started to cool off in May.
After falling by a combined total of -90,000 contracts on May 7th and May 14th, the speculator position added bearish bets in the past two weeks before this week’s retreat further trimmed bearish bets.
VIX Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 88,288 contracts on the week. This was a weekly decrease of -22,320 contracts from the total net of 110,608 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $17.22 which was a fall of $-0.15 from the previous close of $17.37, 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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