HENRY HUB PENULTIMATE NAT GAS COT Report, Disaggregated
Wednesday, October 28, 2026
Managed Money net -5,718 contracts in HENRY HUB PENULTIMATE NAT GAS, 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
HENRY HUB PENULTIMATE NAT GAS - NEW YORK MERCANTILE EXCHANGE
CFTC contract code
03565C
Contract unit
Contracts Of 2,500 Mmbtu'S
Open interest, contracts
97,962
Change in open interest, contracts
+973
Latest report, futures only
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
11,595
10,709
-
+886
11.8
10.9
0.9
Swap Dealers
18,541
23,934
26,236
-5,393
18.9
24.4
-5.5
Managed Money
1,616
7,334
4,630
-5,718
1.6
7.5
-5.8
Other Reportables
7,607
4,168
13,747
+3,439
7.8
4.3
3.5
Total reportable
83,972
90,758
-
-6,786
85.7
92.6
-6.9
Nonreportable
13,990
7,204
-
+6,786
14.3
7.4
6.9
Managed Money: position against its own history
Weekly net, last 156 reports
Managed Money net, contracts
-5,718
Week change
-528
4-week change
-4,809
13-week change
-2,504
Net as % of open interest
-5.8%
Percentile, 1 year (52 weeks)
31
Percentile, 3 years (156 weeks)
33
Z-score, 52 weeks
-0.38
COT Index, 3 years
25
52-week high of net
+3,286
52-week low of net
-13,180
Traders and concentration
Category
Traders long
Traders short
Producer/Merchant/Processor/User
7
8
Swap Dealers
5
6
Managed Money
-
5
Other Reportables
6
4
Total reportable
33
35
Largest 4 traders, gross long
36.1%
Largest 4 traders, gross short
37.1%
Largest 8 traders, gross long
53.3%
Largest 8 traders, gross short
63.0%
Largest 4 traders, net long
19.1%
Largest 4 traders, net short
22.6%
Largest 8 traders, net long
26.6%
Largest 8 traders, net short
33.4%
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
11,595
10,709
-
+886
11.8
10.9
0.9
Swap Dealers
18,541
23,934
26,236
-5,393
18.9
24.4
-5.5
Managed Money
1,616
7,334
4,630
-5,718
1.6
7.5
-5.8
Other Reportables
7,607
4,168
13,747
+3,439
7.8
4.3
3.5
Total reportable
83,972
90,758
-
-6,786
85.7
92.6
-6.9
Nonreportable
13,990
7,204
-
+6,786
14.3
7.4
6.9
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
97,962
Old crop / nearest months, contracts
97,962
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
97,962
+886
-5,393
-5,718
+3,439
-6,786
+6,786
Tue 13 Oct 2026
96,989
+1,881
-5,463
-5,190
+2,226
-6,546
+6,546
Tue 6 Oct 2026
96,523
+1,791
-4,953
-4,522
+1,048
-6,636
+6,636
Tue 29 Sep 2026
94,281
+871
-4,535
-4,622
+1,810
-6,476
+6,476
Tue 22 Sep 2026
105,296
-3,698
-690
-909
-503
-5,800
+5,800
Tue 15 Sep 2026
103,599
-4,224
-2,952
-693
+2,099
-5,770
+5,770
Tue 8 Sep 2026
101,447
-4,182
-3,402
-125
+2,155
-5,554
+5,554
Tue 1 Sep 2026
100,802
-3,805
-3,402
-125
+1,778
-5,554
+5,554
Tue 25 Aug 2026
110,012
-4,536
-866
-1,504
+2,194
-4,712
+4,712
Tue 18 Aug 2026
109,942
-4,547
-1,681
-1,624
+2,736
-5,116
+5,116
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.