Tab guide · COT
By WideRadar · Published June 13, 2026
The COT (Commitment of Traders) tab shows how commercial hedgers and speculative funds are positioned in futures markets, reported weekly by the CFTC. It gives you a window into what large money is actually doing — not what they say in interviews.
Commercial — Hedgers using futures to offset real economic exposure. Heavy commercial short-covering historically marks market bottoms.
Non-Commercial — Large speculative funds making directional bets. Their extreme net longs at market tops are a classic warning sign.
Non-Reportable — Small speculators below the CFTC reporting threshold. Extreme readings can have contrarian value but are less reliable.
Each row shows open long and short positions by trader category. The net position (longs minus shorts) is the key number. Week-over-week changes are often more actionable than absolute levels — a rapid swing from net long to net short after an extended rally has historically been an early warning before corrections.
COT data is reported with a several-day lag (Tuesday data published Friday). Use it as a background sentiment indicator alongside your breadth and leadership reads — not as a precise timing signal.
COT stands for Commitment of Traders. Every Tuesday, futures market participants with positions above the CFTC's reporting threshold must disclose their open interest in regulated futures markets. The CFTC publishes this data every Friday. It gives traders a delayed but accurate picture of how large commercial hedgers and speculative funds are actually positioned — not what they say in interviews.
Commercial traders are hedgers — producers, manufacturers, and large institutions using futures to offset real economic exposure. They often act as contrarians at market extremes. Non-commercial traders are large speculative funds making directional bets. Extreme non-commercial net longs at market tops are a classic warning sign before corrections.
The most reliable COT signals come at extremes. When non-commercial speculators hold historically large net-long positions after an extended rally, risk/reward for new longs deteriorates. Conversely, aggressive commercial short-covering at a market low has historically been a strong buy signal. Use COT as a background sentiment indicator alongside breadth and leadership data — not as a precise timing signal.
The CFTC's public reporting API (publicreporting.cftc.gov) has been intermittently unavailable since May 2026. When the API is down, the COT tab shows an 'unavailable' notice. The data still exists — it is a temporary CFTC infrastructure issue, not a problem with WideRadar.