By CountingPips.com – Receive our weekly COT Reports by Email
VIX Non-Commercial Speculator Positions:
Large volatility speculators pushed their bearish net positions higher in the VIX futures markets for a second straight week 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 -39,726 contracts in the data reported through Tuesday May 12th. This was a weekly change of -11,368 net contracts from the previous week which had a total of -28,358 net contracts.
The week’s net position was the result of the gross bullish position (longs) tumbling by -3,540 contracts (to a weekly total of 47,311 contracts) while the gross bearish position (shorts) rose by 7,828 contracts for the week (to a total of 87,037 contracts).
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VIX speculators boosted their bearish bets for the second straight week this week. Specs have now added a total of -20,755 contracts to the bearish level over these past two weeks. The current net position has continued to remain in an overall bearish standing for 70 consecutive weeks, dating back to January of 2019. Open interest levels (the number of contracts outstanding in the market) continue to show very low numbers of open trades in the market. The current open interest level of 230,744 contracts comes in sharply lower than the 2020 weekly average of 354,646 contracts.
VIX Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 44,273 contracts on the week. This was a weekly advance of 10,318 contracts from the total net of 33,955 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $32.92 which was a loss of $-1.10 from the previous close of $34.02, 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