COT Positioning
5-Year T-Note
ZF · report date 2026-06-30
Read with care: leveraged-fund net shorts in Treasury futures largely reflect the cash-futures basis trade (long cash bonds vs. short futures), not directional bets on rates. Interpret the speculative net accordingly.
Latest report
2026-06-30 · OI 6,267,012| Category | Long | Short | Net | 1-wk Δ | % of OI |
|---|---|---|---|---|---|
| Leveraged Funds | 545,213 | 2,691,503 | -2,146,290 | +19,283 | 33.7% |
| Dealer/Intermediary | 94,919 | 926,993 | -832,074 | -41,220 | 10.6% |
| Asset Managers | 3,956,443 | 1,025,573 | +2,930,870 | +21,501 | 51.8% |
| Other Reportables | 190,158 | 183,195 | +6,963 | +10,471 | 3.9% |
Trader group split
34%
11%
52%
- Lev funds33.7%
- Dealer10.6%
- Asset mgrs51.8%
- Other3.9%
Charts
Positions by category
Price — weekly candles
Open interest
Lev funds net vs price
Z-score (±2 bands)
Lev funds — weekly change
Δ LongΔ ShortΔ Net
Last 26 weeks — all metrics
| Week | Lev funds net | Dealer net | Asset mgrs net | Other net | 1-wk Δ | % OI | COT Idx | z | Price | Extreme |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | -2,146,290 | -832,074 | +2,930,870 | +6,963 | +19,283 | -34.3% | 69 | 0.87 | 107.23 | — |
| 2026-06-23 | -2,165,573 | -790,854 | +2,909,369 | -3,508 | +49,037 | -34.9% | 66 | 0.82 | 106.86 | — |
| 2026-06-16 | -2,214,610 | -713,763 | +2,876,022 | -1,608 | +15,746 | -35.7% | 63 | 0.73 | 107.31 | — |
| 2026-06-09 | -2,230,356 | -704,901 | +2,930,024 | +2,151 | +27,239 | -36.1% | 63 | 0.69 | 106.88 | — |
| 2026-06-02 | -2,257,595 | -686,276 | +2,897,904 | +28,023 | -186,242 | -35.8% | 62 | 0.64 | 107.20 | — |
| 2026-05-26 | -2,071,353 | -696,456 | +2,707,827 | -4,300 | +235,094 | -30.3% | 70 | 0.90 | 107.15 | — |
| 2026-05-19 | -2,306,447 | -567,066 | +2,872,452 | +33,426 | +42,758 | -33.1% | 59 | 0.54 | 106.53 | — |
| 2026-05-12 | -2,349,205 | -549,334 | +2,714,382 | +120,730 | +101,636 | -34.7% | 58 | 0.47 | 107.38 | — |
| 2026-05-05 | -2,450,841 | -510,801 | +2,745,860 | +146,873 | -42,469 | -37.0% | 53 | 0.31 | 107.62 | — |
| 2026-04-28 | -2,408,372 | -548,197 | +2,669,976 | +202,547 | +214 | -37.1% | 55 | 0.36 | 108.02 | — |
| 2026-04-21 | -2,408,586 | -660,490 | +2,776,970 | +208,084 | +46,532 | -37.1% | 55 | 0.34 | 108.32 | — |
| 2026-04-14 | -2,455,118 | -700,158 | +2,864,678 | +220,137 | -15,039 | -37.8% | 50 | 0.26 | 108.48 | — |
| 2026-04-07 | -2,440,079 | -677,383 | +2,827,521 | +231,051 | +123,475 | -37.9% | 49 | 0.27 | 108.02 | — |
| 2026-03-31 | -2,563,554 | -645,550 | +2,926,894 | +222,910 | +22,170 | -39.4% | 44 | 0.08 | 108.25 | — |
| 2026-03-24 | -2,585,724 | -620,082 | +2,859,857 | +306,948 | +331,845 | -39.4% | 43 | 0.04 | 107.81 | — |
| 2026-03-17 | -2,917,569 | -554,890 | +3,084,190 | +289,916 | +168,350 | -43.6% | 29 | -0.42 | 108.87 | — |
| 2026-03-10 | -3,085,919 | -500,408 | +3,196,932 | +253,675 | +18,024 | -45.7% | 22 | -0.65 | 109.20 | — |
| 2026-03-03 | -3,103,943 | -542,566 | +3,330,539 | +168,118 | -56,381 | -45.9% | 21 | -0.69 | 109.55 | — |
| 2026-02-24 | -3,047,562 | -614,486 | +3,356,428 | +144,922 | +63,480 | -41.3% | 23 | -0.62 | 109.70 | — |
| 2026-02-17 | -3,111,042 | -741,961 | +3,610,113 | +105,252 | +8,710 | -41.9% | 21 | -0.71 | 109.63 | — |
| 2026-02-10 | -3,119,752 | -791,920 | +3,607,773 | +145,551 | +64,869 | -44.6% | 20 | -0.73 | 109.33 | — |
| 2026-02-03 | -3,184,621 | -790,138 | +3,581,327 | +265,410 | -73,781 | -46.2% | 18 | -0.83 | 108.74 | — |
| 2026-01-27 | -3,110,840 | -785,325 | +3,535,089 | +216,555 | +115,931 | -45.9% | 21 | -0.74 | 108.81 | — |
| 2026-01-20 | -3,226,771 | -677,080 | +3,508,585 | +249,244 | +41,744 | -47.8% | 16 | -0.90 | 108.62 | — |
| 2026-01-13 | -3,268,515 | -693,886 | +3,665,893 | +153,912 | +108,957 | -48.6% | 14 | -0.96 | 109.12 | — |
| 2026-01-06 | -3,377,472 | -667,560 | +3,720,589 | +160,113 | +25,181 | -50.1% | 11 | -1.10 | 109.24 | — |