E-mini S&P 500 (ES) COT Index

Name: CFTC Commitment of Traders Historical Data — E-mini S&P 500 (ES)
Creator: U.S. Commodity Futures Trading Commission
License: https://www.cftc.gov/MarketReports/CommitmentsofTraders/HistoricalCompressed/index.htm

Recreating the institutional Commitment of Traders (COT) sentiment oscillator independently from raw U.S. CFTC data. Tracks commercial producer hedging and speculative crowding normalized over rolling 3-year, 1-year, and 6-month horizons.

Select Futures Contract / Spot Pair:42 Mapped CFTC Contracts • Spot Forex Auto-Matched

Popular:

Institutional COT Sentiment Signal (156W Lookback)

Neutral Balance (25 - 75)

Positions are oscillating within normal historical bands without extreme hedging or speculative imbalance.

Commercial Index66.3 / 100

Speculator Index30.2 / 100

How to Read the COT Index & Market Dynamics

Understanding institutional positioning, commercial hedging pressure, and speculative extremes in E-mini S&P 500 markets.

What is the CFTC COT Report?

Every Friday at 15:30 Eastern Time, the U.S. Commodity Futures Trading Commission (CFTC) publishes the Commitment of Traders report. It breaks down open commitments across commercial hedgers, large institutional speculators, and small retail traders based on positions held as of the prior Tuesday close.

The COT Index Normalization

Raw net contract totals vary dramatically across asset classes and over time. The COT Index normalizes net positioning on a scale of 0 to 100 using a rolling Williams %R-style formula:

index = 100 × (net - lowest(N)) / (highest(N) - lowest(N))

Calculated across standard lookback horizons: 3 Years (156 weeks), 1 Year (52 weeks), and 6 Months (26 weeks).

Extreme Reference Bands (25 & 75)

Readings above 75 or below 25 highlight cyclical sentiment saturation:

Commercials ≥ 75: Heavy producer buying often precedes major market bottoms.
Speculators ≥ 75: Crowded momentum traders create fragility to sharp liquidation sell-offs.

CFTC Participant Classifications

Commercial Hedgers (Blue)

Entities that produce, process, or merchandise physical commodities or financial instruments and use futures to offset cash market risk. Known as the “smart money” because of their fundamental industry knowledge.

Non-Commercial Speculators (Green)

Commodity Trading Advisors (CTAs), hedge funds, and institutional money managers who trade strictly for profit without underlying physical business. Tend to follow prevailing market trends.

Non-Reportable Traders (Purple)

Positions that fall below CFTC reporting thresholds, typically comprising retail traders and small commercial operations.

E-mini S&P 500 (ES) COT Index Oscillator

Oscillates 0–100 • Upper Band 75 • Lower Band 25

Mode:

Lookback (N):

Upper Band: 75 (Extreme) Lower Band: 25 (Extreme)

Normalized over rolling 156-week window (Williams %R formula).

Data release: Weekly CFTC Legacy Report (Tuesdays data)

Latest Verified CFTC Positioning DataVerified Socrata Feed

Report Date: 2026-09-22 • Contract: E-mini S&P 500 (ES) • CFTC Code #13874A

Total Open Interest: 1,890,653 (-555,866)

Trader Category	Long Contracts	Short Contracts	Net Position (L - S)	1-Week Change	COT Index
Commercial Hedgers Producers, Merchants, Processors (Smart Money)	1,388,362	1,359,482	+28,880	+19,689	66.3(Neutral)
Non-Commercial Speculators Hedge Funds, CTAs, Large Trend Followers	218,043	351,271	-133,228	-32,767	30.2(Neutral)
Non-Reportable Traders Retail & Small Speculators	250,187	145,839	+104,348	+13,078	61.5(Neutral)
Raw CFTC Legacy Futures positions published weekly by the U.S. Commodity Futures Trading Commission. All position quantities are in standard exchange contracts.