Information about the Commitments of Traders Reports
A graphical analysis of net positions and indicators such as the Williams Commercial Index and the CoT Index can be viewed here:
Futures CoT Charts
For quick filtering of futures by indicators you can use our screener:
Futures CoT Indicators Screener
History of the Commitment of Traders Reports
The Commitment of Traders Report (CoT) is published every Friday evening by the Commodity Futures Trading Commission (CFTC) and reports on the trading positions of market participants at close of trading on Tuesday evening of the current week. Until September 4, 2009, these have only been divided into three groups:
These are the large traders who primarily hold hedging positions such as commodity producers and swap dealers.
Large Speculators / Non Commercials
Large market participants who primarily place speculative positions for profit. These are also reportable like the Commercials. These include, for example, large funds and speculators who take very large positions.
Small Speculators / Non Reportables
Summary of all other market participants that are not notifiable and whose positioning is therefore calculated from the difference between the total open interest and the reportable market participants. eg small speculators who are usually represented by small traders.
This report is referred to as the Legacy Report and is available for download on the CFTC's website until the year 1986.
Since 04.09.2009 also the so-called Disaggregated Report is published in which the commercial traders and the large speculators are further broken down. The so-called Disaggregated Futures Report, which is prepared only for the commodity markets, divides the commercials into producers and swap dealers, the large speculators into money managers and other reportables. The Traders Financial Futures Report is divided into Dealer / Intermediary, Asset Manager / Institutional, Leveraged Funds and Other Reportables. The data of the legacy report can not be calculated in the financial futures via a simple addition of the data of the trader in financial futures reports, since the market participants are summarized differently. Subsequently, this report was also identified and provided for the years 2006 to 2009.
Note: Opinions differ widely about the significance of CoT reports. Especially here is criticized that these reports are already outdated when published. In addition, the data is poorly useable for short-term trading due to its weekly release.
How to use the data in the Commitments of Traders Reports for trading decisions
There are many websites and books about how these reports can be used for your own trading and I do not want to offer any investment advice here. Therefore, there are only recommendations for obtaining information here.
In particular, Larry Williams has dealt in particular with the CoT reports and wrote very exciting books on stock market trading.
Recommendations will follow.
Special trading indicators for the Commitments of Traders Reports
Note: This website offers all indicators for each market participant. Whether an indicator is relevant to a market participant is left to the opinion of the user!
The CoT index is determined according to the formula:
The Commercial Index by Larry Williams (WillCo):
Net position of the current week - Minimum net position of the last n weeks
Maximum net position of the last n weeks - Minimum net position of the last n weeks
The Williams Commercial Index, also known as WillCo Index, requires the quotient for each week:
entire open interest
These are then used to calculate the index:
Q of the current week - Minimum Q of the last n weeks
Maximum Q of last n weeks - Minimum Q of the last n weeks
Further indicators are under development.