Free public data — updated every Friday
What is the COT Report?
A weekly report from the U.S. regulator (CFTC) that shows exactly how banks, hedge funds, and retail traders are positioned in futures markets. The big money leaves footprints. COT shows them.
3 Groups of Traders
The report splits all traders into three groups — each with a very different track record.
Smart Money
Commercials
Banks and producers. They buy when prices are low, sell when high. Almost always on the right side at major reversals. Follow them.
Trend Followers
Large Speculators
Hedge funds chasing momentum. They ride trends but often arrive near the end of a move. Most bullish at tops, most bearish at bottoms.
Contrarian Signal
Small Traders
Retail traders. Consistently pile in at market extremes. When retail hits a record long or short — it's a warning sign. Fade them.
COT Index — Reading the Signal
The COT Index shows where Commercials (banks) stand on a scale of 0 to 100 compared to the last 26 weeks. Simple rule:
0–20
SELL
Banks are heavily short. Prices are high. Potential top.
20–80
NEUTRAL
No extreme. No clear signal. Wait.
80–100
BUY
Banks are heavily long. Prices are low. Potential bottom.
Why it works: Banks and producers are natural hedgers — they buy futures when prices are cheap and sell when expensive. Their extreme positions reliably mark turning points in the market.
When Is Data Updated?
Tuesday
CFTC collects positions
→
Friday
Report published at 3:30 PM ET
→
Auto
Dashboard updates automatically
Data is always 3 days old — that's the standard processing lag set by regulation. All COT providers work with the same delay.