Managed Money net +47,690 contracts in COPPER- #1, positions as of Tue 20 Oct 2026.
Data as of Positions as of Tue 20 Oct 2026; published Fri 23 Oct 2026
Positions as of Tue 20 Oct 2026 - published Fri 23 Oct 2026 (CFTC, Friday release)
Report family
Disaggregated
Basis
Futures only
Market
COPPER- #1 - COMMODITY EXCHANGE INC.
CFTC contract code
085692
Contract unit
Contracts Of 25,000 Pounds
Open interest, contracts
327,119
Change in open interest, contracts
+13,287
Latest report, futures only
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
52,941
130,347
-
-77,406
16.2
39.8
-23.7
Swap Dealers
53,260
40,150
10,268
+13,110
16.3
12.3
4.0
Managed Money
67,225
19,535
53,320
+47,690
20.6
6.0
14.6
Other Reportables
31,310
21,603
41,959
+9,707
9.6
6.6
3.0
Total reportable
310,283
317,182
-
-6,899
94.9
97.0
-2.1
Nonreportable
16,836
9,937
-
+6,899
5.1
3.0
2.1
Managed Money: position against its own history
Weekly net, last 156 reports
Managed Money net, contracts
+47,690
Week change
-13,368
4-week change
-34,832
13-week change
-23,825
Net as % of open interest
14.6%
Percentile, 1 year (52 weeks)
12
Percentile, 3 years (156 weeks)
63
Z-score, 52 weeks
-1.41
COT Index, 3 years
72
52-week high of net
+82,522
52-week low of net
+35,284
Traders and concentration
Category
Traders long
Traders short
Producer/Merchant/Processor/User
29
33
Swap Dealers
18
12
Managed Money
77
30
Other Reportables
66
35
Total reportable
247
171
Largest 4 traders, gross long
17.8%
Largest 4 traders, gross short
27.6%
Largest 8 traders, gross long
29.3%
Largest 8 traders, gross short
40.2%
Largest 4 traders, net long
16.9%
Largest 4 traders, net short
26.5%
Largest 8 traders, net long
25.3%
Largest 8 traders, net short
36.4%
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
53,803
131,401
-
-77,598
15.8
38.5
-22.7
Swap Dealers
53,400
40,259
11,887
+13,141
15.6
11.8
3.9
Managed Money
67,861
19,852
55,163
+48,009
19.9
5.8
14.1
Other Reportables
29,033
19,694
52,531
+9,339
8.5
5.8
2.7
Total reportable
323,679
330,787
-
-7,108
94.9
96.9
-2.1
Nonreportable
17,561
10,452
-
+7,109
5.1
3.1
2.1
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
327,119
Old crop / nearest months, contracts
327,119
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 20 Oct 2026
327,119
-77,406
+13,110
+47,690
+9,707
-6,899
+6,899
Tue 13 Oct 2026
313,832
-90,466
+13,829
+61,058
+7,462
-8,117
+8,117
Tue 6 Oct 2026
304,033
-92,720
+14,797
+61,134
+8,300
-8,489
+8,489
Tue 29 Sep 2026
301,201
-104,340
+9,499
+78,058
+7,353
-9,430
+9,430
Tue 22 Sep 2026
301,657
-112,575
+12,140
+82,522
+8,000
-9,913
+9,913
Tue 15 Sep 2026
289,463
-98,018
+13,631
+65,106
+10,028
-9,253
+9,253
Tue 8 Sep 2026
297,491
-111,865
+7,221
+82,154
+10,322
-12,168
+12,168
Tue 1 Sep 2026
282,640
-97,022
+4,915
+72,882
+7,987
-11,238
+11,238
Tue 25 Aug 2026
283,299
-100,023
+4,974
+76,271
+8,995
-9,783
+9,783
Tue 18 Aug 2026
281,563
-96,274
+6,134
+78,648
+1,100
-10,392
+10,392
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 20 Oct 2026, published Fri 23 Oct 2026.