TETCO M2 Basis (Receipts) · ICE FUTURES ENERGY DIV · CFTC code 0233DR · week ending 2026-10-06
Managed Money holds a net position of 35,858 contracts, or 6.4% of the 556,462 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 = +2.17 and sits at 100 on a 0–100 scale of its three-year range). In contracts, the net position moved +2,352 while open interest moved −23,325 — short covering, with the move coming from shorts closing out rather than new buyers arriving. That is +0.66pp as a share of open interest.
Managed Money · blue above the line is net long, red below is net short
The denominator. Positioning shares mean little without knowing whether the market itself is growing or shrinking.
Shaded beyond ±2σ. Measures how unusual today's share is for this market.
Rank within the 3-year range. Shaded below 10 and above 90.
Change in the net share week over week, in percentage points of open interest.
Net share of open interest by trader group. The groups net to zero — every long is someone's short.
| Week | Open interest | Net | Net % OI | Δ pp | Z | COT Idx |
|---|---|---|---|---|---|---|
| 2026-10-06 | 556,462 | 35,858 | 6.44% | 0.66 | 2.17 | 100 |
| 2026-09-29 | 579,787 | 33,506 | 5.78% | 0.16 | 1.86 | 100 |
| 2026-09-22 | 572,972 | 32,196 | 5.62% | 0.07 | 1.81 | 99 |
| 2026-09-15 | 567,712 | 31,498 | 5.55% | -0.16 | 1.80 | 98 |
| 2026-09-08 | 561,103 | 32,020 | 5.71% | 0.90 | 1.92 | 100 |
| 2026-09-01 | 579,306 | 27,864 | 4.81% | 0.03 | 1.46 | 91 |
| 2026-08-25 | 576,413 | 27,576 | 4.78% | -0.46 | 1.46 | 91 |
| 2026-08-18 | 554,933 | 29,105 | 5.24% | -0.13 | 1.74 | 98 |
| 2026-08-11 | 541,984 | 29,109 | 5.37% | 0.51 | 1.84 | 100 |
| 2026-08-04 | 566,816 | 27,529 | 4.86% | -0.16 | 1.58 | 97 |
| 2026-07-28 | 558,545 | 28,040 | 5.02% | 0.32 | 1.70 | 99 |
| 2026-07-21 | 540,198 | 25,411 | 4.70% | -0.00 | 1.55 | 94 |