COT Positioning
5-Year T-Note
ZF · report date 2026-08-18
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
2026-08-18 · OI 6,604,060| Category | Long | Short | Net | 1-wk Δ | % of OI |
|---|---|---|---|---|---|
| Leveraged Funds | 379,397 | 2,549,211 | -2,169,814 | -22,070 | 31.3% |
| Dealer/Intermediary | 129,849 | 958,902 | -829,053 | -10,029 | 11.6% |
| Asset Managers | 3,953,079 | 1,025,965 | +2,927,114 | +43,137 | 53.1% |
| Other Reportables | 207,806 | 164,571 | +43,235 | -17,123 | 4.0% |
Trader group split
31%
12%
53%
- Lev funds31.3%
- Dealer11.6%
- Asset mgrs53.1%
- Other4.0%
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-08-18 | -2,169,814 | -829,053 | +2,927,114 | +43,235 | -22,070 | -32.9% | 70 | 0.94 | 106.44 | — |
| 2026-08-11 | -2,147,744 | -819,024 | +2,883,977 | +60,358 | +63,695 | -33.3% | 70 | 0.96 | 106.32 | — |
| 2026-08-04 | -2,211,439 | -817,171 | +2,963,254 | +45,663 | -102,801 | -34.7% | 67 | 0.84 | 106.52 | — |
| 2026-07-28 | -2,108,638 | -815,799 | +2,896,249 | +16,965 | +22,790 | -34.1% | 72 | 0.99 | 106.37 | — |
| 2026-07-21 | -2,131,428 | -747,027 | +2,850,125 | +23,495 | +25,322 | -34.6% | 71 | 0.94 | 106.31 | — |
| 2026-07-14 | -2,156,750 | -773,419 | +2,894,918 | +19,802 | +18,112 | -34.9% | 68 | 0.88 | 106.52 | — |
| 2026-07-07 | -2,174,862 | -848,301 | +2,968,222 | +26,332 | -28,572 | -35.0% | 68 | 0.84 | 106.79 | — |
| 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 | — |