← All markets

WAHA FIN BASIS

WAHA FIN BASIS · ICE FUTURES ENERGY DIV · CFTC code 023399 · week ending 2026-08-11

Trader category
Range

Managed Money is net long 1.9% of open interest — a crowded long

Managed Money holds a net position of 13,445 contracts, or 1.9% of the 712,979 contracts of open interest, leaving the category net long. That is more than two standard deviations above its three-year average — positioning is stretched, and stretched positioning is fuel for a sharp unwind if the narrative changes (z = +3.17 and sits at 100 on a 0–100 scale of its three-year range). In contracts, the net position moved +1,756 while open interest moved −20,227 — short covering, with the move coming from shorts closing out rather than new buyers arriving. That is +0.29pp as a share of open interest.

Net position as a share of open interest

Managed Money · blue above the line is net long, red below is net short

Open interest

The denominator. Positioning shares mean little without knowing whether the market itself is growing or shrinking.

Z-score vs its own 3-year history

Shaded beyond ±2σ. Measures how unusual today's share is for this market.

COT Index (0–100)

Rank within the 3-year range. Shaded below 10 and above 90.

Weekly flow, adjusted for open interest

Change in the net share week over week, in percentage points of open interest.

Who is on the other side

Net share of open interest by trader group. The groups net to zero — every long is someone's short.

Producer / Merchant Swap Dealer Managed Money Other Reportable Non-Reportable
Recent weeks (table view)
Week Open interest Net Net % OI Δ pp Z COT Idx
2026-08-11 712,979 13,445 1.89% 0.29 3.17 100
2026-08-04 733,206 11,689 1.59% 0.80 3.09 100
2026-07-28 707,553 5,598 0.79% 0.15 2.64 95
2026-07-21 687,992 4,430 0.64% -0.37 2.60 93
2026-07-14 673,385 6,860 1.02% -0.14 2.95 98
2026-07-07 660,411 7,623 1.15% 0.88 3.16 100
2026-06-30 700,164 1,896 0.27% 0.94 2.60 100
2026-06-23 694,264 −4,676 -0.67% 1.17 1.93 100
2026-06-16 691,579 −12,767 -1.85% -1.11 1.02 80
2026-06-09 671,659 −4,932 -0.73% 0.38 1.93 100
2026-06-02 701,457 −7,849 -1.12% 0.05 1.65 96
2026-05-26 687,121 −8,029 -1.17% 1.31 1.64 95