Managed Money net -14,956 contracts in MICHCON BASIS, 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
MICHCON BASIS - ICE FUTURES ENERGY DIV
CFTC contract code
0233AQ
Contract unit
2500 Mmbtu
Open interest, contracts
197,565
Change in open interest, contracts
+1,479
Latest report, futures only
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
180,059
114,212
-
+65,847
91.1
57.8
33.3
Swap Dealers
0
51,628
4,431
-51,628
0.0
26.1
-26.1
Managed Money
0
14,956
4,281
-14,956
0.0
7.6
-7.6
Other Reportables
0
1,066
1,280
-1,066
0.0
0.5
-0.5
Total reportable
190,051
191,854
-
-1,803
96.2
97.1
-0.9
Nonreportable
7,514
5,711
-
+1,803
3.8
2.9
0.9
Managed Money: position against its own history
Weekly net, last 156 reports
Managed Money net, contracts
-14,956
Week change
-1,524
4-week change
+1,256
13-week change
-1,203
Net as % of open interest
-7.6%
Percentile, 1 year (52 weeks)
75
Percentile, 3 years (156 weeks)
50
Z-score, 52 weeks
0.81
COT Index, 3 years
50
52-week high of net
-9,753
52-week low of net
-49,750
Traders and concentration
Category
Traders long
Traders short
Producer/Merchant/Processor/User
33
33
Swap Dealers
0
9
Managed Money
0
6
Other Reportables
0
-
Total reportable
40
50
Largest 4 traders, gross long
45.7%
Largest 4 traders, gross short
30.2%
Largest 8 traders, gross long
60.7%
Largest 8 traders, gross short
49.2%
Largest 4 traders, net long
39.0%
Largest 4 traders, net short
25.1%
Largest 8 traders, net long
49.5%
Largest 8 traders, net short
40.4%
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
180,059
114,212
-
+65,847
91.1
57.8
33.3
Swap Dealers
0
51,628
4,431
-51,628
0.0
26.1
-26.1
Managed Money
0
14,956
4,281
-14,956
0.0
7.6
-7.6
Other Reportables
0
1,066
1,280
-1,066
0.0
0.5
-0.5
Total reportable
190,051
191,854
-
-1,803
96.2
97.1
-0.9
Nonreportable
7,514
5,711
-
+1,803
3.8
2.9
0.9
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
197,565
Old crop / nearest months, contracts
197,565
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
197,565
+65,847
-51,628
-14,956
-1,066
-1,803
+1,803
Tue 13 Oct 2026
196,086
+62,800
-51,135
-13,432
-982
-2,749
+2,749
Tue 6 Oct 2026
195,594
+61,739
-53,494
-13,087
-477
-5,319
+5,319
Tue 29 Sep 2026
200,278
+69,452
-54,565
-16,310
+536
-887
+887
Tue 22 Sep 2026
197,387
+64,573
-51,774
-16,212
+1,700
-1,713
+1,713
Tue 15 Sep 2026
203,783
+68,895
-54,404
-15,618
+396
-731
+731
Tue 8 Sep 2026
206,348
+66,528
-55,341
-15,163
+3,475
-501
+501
Tue 1 Sep 2026
217,601
+73,373
-56,642
-19,627
+1,766
-1,130
+1,130
Tue 25 Aug 2026
213,629
+74,483
-54,264
-22,310
+1,796
-295
+295
Tue 18 Aug 2026
211,810
+65,429
-51,831
-19,159
+1,810
-3,751
+3,751
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.