November 23rd – By CountingPips.com – Receive our weekly COT Reports by Email
VIX Non-Commercial Speculator Positions:
Large volatility speculators continued to push their bearish net positions higher 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 -218,362 contracts in the data reported through Tuesday November 19th. This was a weekly change of -12,205 net contracts from the previous week which had a total of -206,157 net contracts.
The week’s net position was the result of the gross bullish position (longs) advancing by 2,526 contracts (to a weekly total of 94,359 contracts) while the gross bearish position (shorts) increased by a greater amount of 14,731 contracts for the week (to a total of 312,721 contracts).
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VIX speculators raised their bearish bets for a sixth consecutive week and for the eleventh time out of the past twelve weeks. This pushes the current VIX bearish position to another all-time record high at -218,362 contracts and marks the fourth straight week of new record highs.
VIX Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 227,456 contracts on the week. This was a weekly uptick of 12,569 contracts from the total net of 214,887 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $15.22 which was a decrease of $-0.60 from the previous close of $15.82, 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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