COT Positioning
5-Year T-Note
ZF · report date 2026-10-06
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
2026-10-06 · OI 6,758,624| Category | Long | Short | Net | 1-wk Δ | % of OI |
|---|---|---|---|---|---|
| Leveraged Funds | 541,071 | 2,668,638 | -2,127,567 | -141,780 | 31.4% |
| Dealer/Intermediary | 83,428 | 919,320 | -835,892 | +144,190 | 9.8% |
| Asset Managers | 4,218,531 | 1,304,245 | +2,914,286 | +62,607 | 54.1% |
| Other Reportables | 257,944 | 216,094 | +41,850 | -31,527 | 4.6% |
Trader group split
31%
10%
54%
- Lev funds31.4%
- Dealer9.8%
- Asset mgrs54.1%
- Other4.6%
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-10-06 | -2,127,567 | -835,892 | +2,914,286 | +41,850 | -141,780 | -31.5% | 80 | 1.10 | 103.58 | — |
| 2026-09-29 | -1,985,787 | -980,082 | +2,851,679 | +73,377 | -127,725 | -29.3% | 84 | 1.34 | 103.65 | — |
| 2026-09-22 | -1,858,062 | -933,316 | +2,716,937 | +33,610 | +128,866 | -28.2% | 89 | 1.55 | 104.45 | — |
| 2026-09-15 | -1,986,928 | -855,342 | +2,788,449 | +20,835 | +79,361 | -31.2% | 80 | 1.31 | 104.55 | — |
| 2026-09-08 | -2,066,289 | -855,908 | +2,847,361 | +23,122 | +136,399 | -32.8% | 77 | 1.16 | 105.59 | — |
| 2026-09-01 | -2,202,688 | -814,435 | +2,928,019 | +21,591 | -90,878 | -34.7% | 70 | 0.91 | 105.64 | — |
| 2026-08-25 | -2,111,810 | -929,025 | +2,914,481 | +13,560 | +58,004 | -30.1% | 74 | 1.05 | 106.49 | — |
| 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 | — |