TETCO M2 Basis (Receipts)

TETCO M2 Basis (Receipts) · ICE FUTURES ENERGY DIV · CFTC code 0233DR · week ending 2026-08-11

Trader category

Range

Managed Money is net long 5.4% of open interest — elevated

Managed Money holds a net position of 29,109 contracts, or 5.4% of the 541,984 contracts of open interest, leaving the category net long. That is meaningfully above its three-year average, though short of an extreme (z = +1.84 and sits at 100 on a 0–100 scale of its three-year range). In contracts, the net position moved +1,580 while open interest moved −24,832 — short covering, with the move coming from shorts closing out rather than new buyers arriving. That is +0.51pp 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	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
2026-07-14	535,658	25,205	4.71%	-0.10	1.57	94
2026-07-07	522,285	25,084	4.80%	0.56	1.65	96
2026-06-30	543,890	23,050	4.24%	-0.10	1.35	87
2026-06-23	540,137	23,417	4.34%	-0.11	1.43	88
2026-06-16	536,796	23,853	4.44%	0.18	1.51	90
2026-06-09	532,647	22,691	4.26%	0.47	1.42	87
2026-06-02	557,391	21,131	3.79%	0.08	1.17	79
2026-05-26	549,605	20,396	3.71%	-0.11	1.14	78