S&P 500 Mini Speculators Push Bullish Bets To Highest Level In 22 Weeks
Zachary Storella | Oct 07, 2018 03:42AM ET
S&P500 Mini Non-Commercial Speculator Positions:
Large stock market speculators continued to boost their bullish net positions in the S&P500 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&P500 Mini futures, traded by large speculators and hedge funds, totaled a net position of 228,035 contracts in the data reported through Tuesday October 2nd. This was a weekly increase of 30,119 contracts from the previous week which had a total of 197,916 net contracts.
The speculative bullish position has now risen strongly for three straight weeks and by a total of 105,815 contracts over that time-frame. The current standing is now at the highest bullish level since May 1st when the net position totaled 229,233 contracts.
S&P500 Mini Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -257,477 contracts on the week. This was a weekly loss of -9,798 contracts from the total net of -247,679 contracts reported the previous week.
S&P500 Mini Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the S&P500 Mini Futures (Front Month) closed at approximately $2928.5 which was a rise of $7.25 from the previous close of $2921.25, according to unofficial market data.
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