S&P 500 Mini Speculators Sharply Boosted Bullish Positions
Zachary Storella | Feb 11, 2018 02:57AM ET
S&P 500 Mini Non-Commercial Speculator Positions:
Large stock market speculators sharply boosted their bullish net positions in the S&P 500 Futures markets this week in response to the selloffs of the markets, 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 286,214 contracts in the data reported through Tuesday February 6th. This was a weekly increase of 113,370 contracts from the previous week which had a total of 172,844 net contracts.
This data shows that speculators rushed in to buy S&P 500 Mini futures on Tuesday following last Friday’s and Monday’s sharp drops in the stock markets. The surge in Tuesday’s buying pushed the overall bullish level to the highest standing since March 10th of 2009 when the net positions totaled +333,271 contracts.
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 -253,945 contracts on the week. This was a weekly decline of -75,852 contracts from the total net of -178,093 contracts reported the previous week.
SPY (NYSE: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 $269.13 which was a fall of $-12.63 from the previous close of $281.76, according to unofficial market data.
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