COT Positioning
2-Year T-Note
ZT · 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 4,432,451| Category | Long | Short | Net | 1-wk Δ | % of OI |
|---|---|---|---|---|---|
| Leveraged Funds | 638,468 | 1,881,472 | -1,243,004 | +116,517 | 37.3% |
| Dealer/Intermediary | 123,861 | 627,357 | -503,496 | -23,044 | 11.1% |
| Asset Managers | 2,277,779 | 657,354 | +1,620,425 | -59,964 | 43.5% |
| Other Reportables | 317,838 | 230,784 | +87,054 | -24,722 | 8.1% |
Trader group split
37%
11%
44%
8%
- Lev funds37.3%
- Dealer11.1%
- Asset mgrs43.5%
- Other8.1%
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 | -1,243,004 | -503,496 | +1,620,425 | +87,054 | +116,517 | -28.0% | 100 | 2.05 | 103.05 | Extreme |
| 2026-08-11 | -1,359,521 | -480,452 | +1,680,389 | +111,776 | -25,340 | -31.1% | 94 | 1.71 | 102.96 | — |
| 2026-08-04 | -1,334,181 | -502,145 | +1,693,289 | +105,096 | +230,113 | -30.3% | 96 | 1.80 | 102.99 | Extreme |
| 2026-07-28 | -1,564,294 | -481,870 | +1,845,012 | +153,077 | +30,834 | -35.5% | 80 | 1.10 | 102.85 | — |
| 2026-07-21 | -1,595,128 | -463,713 | +1,820,888 | +171,162 | +76,638 | -36.8% | 77 | 1.01 | 102.86 | — |
| 2026-07-14 | -1,671,766 | -458,882 | +1,872,815 | +184,616 | +84,762 | -37.4% | 72 | 0.77 | 102.97 | — |
| 2026-07-07 | -1,756,528 | -363,665 | +1,891,993 | +149,665 | -7,653 | -39.4% | 66 | 0.51 | 103.03 | — |
| 2026-06-30 | -1,748,875 | -426,888 | +1,960,010 | +147,447 | +38,677 | -39.0% | 67 | 0.52 | 103.20 | — |
| 2026-06-23 | -1,787,552 | -484,045 | +2,017,329 | +183,134 | -82,735 | -39.4% | 64 | 0.39 | 103.06 | — |
| 2026-06-16 | -1,704,817 | -377,132 | +1,824,345 | +185,506 | -23,875 | -39.6% | 70 | 0.62 | 103.31 | — |
| 2026-06-09 | -1,680,942 | -419,923 | +1,879,104 | +158,199 | +132,069 | -39.3% | 71 | 0.67 | 103.16 | — |
| 2026-06-02 | -1,813,011 | -329,619 | +1,958,770 | +149,430 | -40,454 | -41.9% | 60 | 0.28 | 103.29 | — |
| 2026-05-26 | -1,772,557 | -379,417 | +1,991,305 | +106,096 | +106,075 | -35.7% | 62 | 0.38 | 103.28 | — |
| 2026-05-19 | -1,878,632 | -424,174 | +2,140,676 | +99,435 | +69,197 | -38.0% | 50 | 0.07 | 103.12 | — |
| 2026-05-12 | -1,947,829 | -369,528 | +2,116,349 | +119,155 | +86,646 | -40.6% | 45 | -0.14 | 103.36 | — |
| 2026-05-05 | -2,034,475 | -381,371 | +2,223,328 | +109,498 | +83,533 | -42.9% | 40 | -0.38 | 103.46 | — |
| 2026-04-28 | -2,118,008 | -432,826 | +2,339,992 | +127,258 | -12,035 | -44.7% | 32 | -0.61 | 103.64 | — |
| 2026-04-21 | -2,105,973 | -402,514 | +2,324,734 | +100,526 | -26,773 | -44.8% | 31 | -0.59 | 103.76 | — |
| 2026-04-14 | -2,079,200 | -466,973 | +2,360,902 | +107,275 | +68,629 | -44.3% | 31 | -0.53 | 103.82 | — |
| 2026-04-07 | -2,147,829 | -492,055 | +2,464,242 | +102,605 | +20,923 | -45.6% | 27 | -0.71 | 103.66 | — |
| 2026-03-31 | -2,168,752 | -511,627 | +2,492,378 | +122,750 | +130,508 | -45.9% | 25 | -0.76 | 103.68 | — |
| 2026-03-24 | -2,299,260 | -557,177 | +2,602,967 | +171,058 | -212,784 | -48.2% | 18 | -1.06 | 103.43 | — |
| 2026-03-17 | -2,086,476 | -456,205 | +2,210,593 | +231,795 | -158,871 | -44.0% | 27 | -0.58 | 103.91 | — |
| 2026-03-10 | -1,927,605 | -483,995 | +2,072,401 | +232,162 | +121,207 | -41.7% | 33 | -0.25 | 104.09 | — |
| 2026-03-03 | -2,048,812 | -333,051 | +2,060,238 | +215,993 | +18,634 | -45.6% | 28 | -0.51 | 104.23 | — |
| 2026-02-24 | -2,067,446 | -298,378 | +2,058,320 | +205,345 | +67,079 | -44.5% | 27 | -0.56 | 104.32 | — |