CALIF CARBON ALL VINTAGE 2025 COT Report, Disaggregated
Wednesday, October 28, 2026
Managed Money net +3,251 contracts in CALIF CARBON ALL VINTAGE 2025, positions as of Tue 23 Dec 2025.
Data as of Positions as of Tue 23 Dec 2025; published Fri 26 Dec 2025
Positions as of Tue 23 Dec 2025 - published Fri 26 Dec 2025 (CFTC, Friday release)
Report family
Disaggregated
Basis
Futures only
Market
CALIF CARBON ALL VINTAGE 2025 - ICE FUTURES ENERGY DIV
CFTC contract code
0063E5
Contract unit
1,000 California Carbon Allowances
Open interest, contracts
39,961
Change in open interest, contracts
-7,757
Latest report, futures only
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
7,997
15,442
-
-7,445
20.0
38.6
-18.6
Swap Dealers
9,062
6,289
700
+2,773
22.7
15.7
6.9
Managed Money
8,661
5,410
180
+3,251
21.7
13.5
8.1
Other Reportables
13,005
11,642
287
+1,363
32.5
29.1
3.4
Total reportable
39,892
39,950
-
-58
99.8
100.0
-0.1
Nonreportable
69
11
-
+58
0.2
0.0
0.1
Managed Money: position against its own history
Weekly net, last 101 reports
Managed Money net, contracts
+3,251
Week change
-8,488
4-week change
-35,523
13-week change
-52,071
Net as % of open interest
8.1%
Percentile, 1 year (52 weeks)
2
Percentile, 3 years (156 weeks)
-
Z-score, 52 weeks
-3.40
COT Index, 3 years
-
52-week high of net
+81,713
52-week low of net
+3,251
Traders and concentration
Category
Traders long
Traders short
Producer/Merchant/Processor/User
11
13
Swap Dealers
7
6
Managed Money
10
-
Other Reportables
8
13
Total reportable
40
37
Largest 4 traders, gross long
48.7%
Largest 4 traders, gross short
51.3%
Largest 8 traders, gross long
70.6%
Largest 8 traders, gross short
73.5%
Largest 4 traders, net long
48.7%
Largest 4 traders, net short
50.8%
Largest 8 traders, net long
70.6%
Largest 8 traders, net short
73.0%
Concentration is the share of open interest held by the largest traders, as published in the report.
Latest report, futures and options combined
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
7,997
15,442
-
-7,445
20.0
38.6
-18.6
Swap Dealers
9,062
6,289
700
+2,773
22.7
15.7
6.9
Managed Money
8,661
5,410
180
+3,251
21.7
13.5
8.1
Other Reportables
13,005
11,642
287
+1,363
32.5
29.1
3.4
Total reportable
39,892
39,950
-
-58
99.8
100.0
-0.1
Nonreportable
69
11
-
+58
0.2
0.0
0.1
The combined basis adds options converted to futures equivalents at exchange delta factors. The two bases are never mixed in one series; the history on this page is futures only.
Open interest by maturity split
All contract months, contracts
39,961
Old crop / nearest months, contracts
39,961
Other months, contracts
0
Recent reports, net by category
Report date
Open interest
Producer/Merchant/Processor/User
Swap Dealers
Managed Money
Other Reportables
Total reportable
Nonreportable
Tue 23 Dec 2025
39,961
-7,445
+2,773
+3,251
+1,363
-58
+58
Tue 16 Dec 2025
47,718
-8,507
-2,256
+11,739
-1,044
-68
+68
Tue 9 Dec 2025
76,805
-12,872
-7,043
+19,232
+634
-49
+49
Tue 2 Dec 2025
95,260
-11,696
-14,243
+23,880
+2,020
-39
+39
Tue 25 Nov 2025
119,656
-14,590
-31,556
+38,774
+7,288
-84
+84
Tue 18 Nov 2025
131,554
-22,914
-34,804
+46,746
+10,860
-112
+112
Mon 10 Nov 2025
137,842
-24,656
-41,663
+51,350
+14,880
-89
+89
Tue 4 Nov 2025
138,905
-24,345
-44,207
+49,199
+19,305
-48
+48
Tue 28 Oct 2025
161,803
-25,065
-50,595
+45,707
+29,867
-86
+86
Tue 21 Oct 2025
164,313
-27,596
-49,782
+46,518
+30,803
-57
+57
Spreading is calendar-spread positions. It prints as its own column and is not part of net. Percentile is the share of weeks in the window with a net at or below the current net. The COT Index places the current net within its 3-year range, 0 at the low and 100 at the high. Gauges print only when the window holds enough history. History is the series as currently published by the CFTC, including its corrections; first-release vintages are not kept. An extreme reading is a condition of crowding, not a buy or sell signal: speculative categories are trend followers and are usually largest near price extremes.
Source: CFTC Commitments of Traders, Disaggregated report, futures only unless stated. Positions as of Tue 23 Dec 2025, published Fri 26 Dec 2025.