Managed Money net -207,652 contracts in NAT GAS ICE PEN, 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
NAT GAS ICE PEN - ICE FUTURES ENERGY DIV
CFTC contract code
023392
Contract unit
Contracts Of 2,500 Mmbtu'S
Open interest, contracts
728,735
Change in open interest, contracts
+64,018
Latest report, futures only
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
71,593
111,904
-
-40,311
9.8
15.4
-5.5
Swap Dealers
197,786
43,571
128,022
+154,215
27.1
6.0
21.2
Managed Money
17,882
225,534
93,117
-207,652
2.5
30.9
-28.5
Other Reportables
144,620
50,891
75,588
+93,729
19.8
7.0
12.9
Total reportable
728,608
728,627
-
-19
100.0
100.0
-0.0
Nonreportable
127
108
-
+19
0.0
0.0
0.0
Managed Money: position against its own history
Weekly net, last 156 reports
Managed Money net, contracts
-207,652
Week change
-56,900
4-week change
-75,085
13-week change
-43,231
Net as % of open interest
-28.5%
Percentile, 1 year (52 weeks)
35
Percentile, 3 years (156 weeks)
24
Z-score, 52 weeks
-0.16
COT Index, 3 years
42
52-week high of net
-59,734
52-week low of net
-339,390
Traders and concentration
Category
Traders long
Traders short
Producer/Merchant/Processor/User
14
19
Swap Dealers
10
7
Managed Money
6
8
Other Reportables
12
11
Total reportable
62
70
Largest 4 traders, gross long
35.7%
Largest 4 traders, gross short
51.0%
Largest 8 traders, gross long
52.9%
Largest 8 traders, gross short
70.4%
Largest 4 traders, net long
23.7%
Largest 4 traders, net short
36.1%
Largest 8 traders, net long
35.2%
Largest 8 traders, net short
41.1%
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
430,908
446,560
-
-15,652
9.6
9.9
-0.3
Swap Dealers
20,979
57,166
1,044,400
-36,187
0.5
1.3
-0.8
Managed Money
50,598
209,519
1,560,663
-158,921
1.1
4.7
-3.5
Other Reportables
237,920
26,943
1,150,002
+210,977
5.3
0.6
4.7
Total reportable
4,495,470
4,495,253
-
+217
100.0
100.0
0.0
Nonreportable
590
806
-
-216
0.0
0.0
-0.0
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
728,735
Old crop / nearest months, contracts
728,735
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
728,735
-40,311
+154,215
-207,652
+93,729
-19
+19
Tue 13 Oct 2026
664,717
-37,473
+151,809
-150,752
+36,397
-19
+19
Tue 6 Oct 2026
659,622
-37,795
+151,080
-123,410
+10,106
-19
+19
Tue 29 Sep 2026
644,517
-40,501
+142,891
-111,120
+8,711
-19
+19
Tue 22 Sep 2026
725,841
-27,561
+158,392
-132,567
+1,916
+180
-180
Tue 15 Sep 2026
706,370
-22,969
+144,495
-124,669
+3,177
+34
-34
Tue 8 Sep 2026
676,796
-23,631
+144,972
-123,967
+2,745
+119
-119
Tue 1 Sep 2026
651,706
-20,095
+142,323
-121,478
-631
+119
-119
Tue 25 Aug 2026
752,027
+2,427
+110,580
-151,870
+38,963
+100
-100
Tue 18 Aug 2026
712,286
+5,245
+89,296
-120,621
+26,224
+144
-144
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.