S&P500 Mini Speculators Trim Their Bullish Bets This Week
Zachary Storella | May 19, 2019 01:22AM ET
S&P500 Mini Non-Commercial Speculator Positions:
Large stock market speculators decreased 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 93,889 contracts in the data reported through Tuesday, May 14th. This was a weekly reduction of -2,247 net contracts from the previous week which had a total of 96,136 net contracts.
The week’s net position was the result of the gross bullish position (longs) growing by 6,532 contracts (to a weekly total of 422,350 contracts) but being overcome by the gross bearish position (shorts) that rose by 8,779 contracts for the week (to a total of 328,461 contracts).
The SP500-Mini had risen sharply in the past two weeks (though helped by short positions liquidating) before this week’s small decline. The overall spec standing has now been in the positive or long territory for five consecutive weeks and is back to the best levels since the beginning of January.
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 -48,981 contracts on the week. This was a weekly drop of -17,360 contracts from the total net of -31,621 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 $2839.25 which was a fall of $-51.50 from the previous close of $2890.75, according to unofficial market data.
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