S&P 500 Mini Speculators Advanced Their Bullish Net Positions This Week
Zachary Storella | Jul 15, 2018 02:21AM ET
S&P 500 Futures Non-Commercial Speculator Positions:
Large stock market speculators slightly lifted their bullish net positions in the S&P 500 Mini futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of S&P 500 Mini futures, traded by large speculators and hedge funds, totaled a net position of 171,977 contracts in the data reported through Tuesday July 10th. This was a weekly increase of 3,996 contracts from the previous week which had a total of 167,981 net contracts.
The speculative position in the S&P 500 mini bounced back this week after a down week last week (-29,205 contract decline) and has now risen for five out of the past six weeks. The overall net bullish position has now remained above the +160,000 net contract level for six consecutive weeks.
S&P 500 Mini Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -249,244 contracts on the week. This was a weekly rise of 16,743 contracts from the total net of -265,987 contracts reported the previous week.
SPY ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SPY ETF, which tracks the price of S&P 500 Index, closed at approximately $278.9 which was a rise of $8.0 from the previous close of $270.9, according to unofficial market data.
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