COT positioning analysis

Positioning heatmap

Cross-market extremes · usually updated on Friday · 3:30 PM ET

Released Fri, Nov 6, 2026 · positions as of Tue, Nov 3

The positioning heatmap shows where the speculators stand in every market we analyse, across the last 12 weekly CFTC COT reports: one row per market, one column per report.

What does a cell show?

The percentile rank of the speculators’ net position, as a share of open interest, against their own last 3 years

How do you read the figure?

0 = the lowest of the last 3 years100 = the highest

Who are the speculators?

Money managers (Disaggregated report) and Leveraged funds (Traders in Financial Futures report), Futures Only

373 markets · 12 reports with figures · Aug 18, 2026 – Nov 3, 2026

CFTC report version

The speculators’ 3-year percentile rank, per market and weekly report
Market	Aug 18	Aug 25	Sep 1	Sep 8	Sep 15	Sep 22	Sep 29	Oct 6	Oct 13	Oct 20	Oct 27	Nov 3	Speculators
Agriculture & Food
Butter	4 out of 100, extremely low, −9 from the previous report	9 out of 100, extremely low, +5 from the previous report	7 out of 100, extremely low, −2 from the previous report	0 out of 100, extremely low, −7 from the previous report	1 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, −2 from the previous report	0 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, +2 from the previous report	2 out of 100, extremely low, unchanged from the previous report	4 out of 100, extremely low, +2 from the previous report	Net short
Canola	88 out of 100, high, +9 from the previous report	88 out of 100, high, unchanged from the previous report	89 out of 100, high, +1 from the previous report	90 out of 100, extremely high, +1 from the previous report	89 out of 100, extremely high, −1 from the previous report	90 out of 100, extremely high, +1 from the previous report	89 out of 100, extremely high, −1 from the previous report	90 out of 100, extremely high, +1 from the previous report	88 out of 100, extremely high, −2 from the previous report	77 out of 100, high, −11 from the previous report	72 out of 100, neutral, −5 from the previous report	65 out of 100, neutral, −7 from the previous report	Net long
Cheese	52 out of 100, neutral, −3 from the previous report	48 out of 100, neutral, −4 from the previous report	43 out of 100, neutral, −5 from the previous report	23 out of 100, neutral, −20 from the previous report	39 out of 100, neutral, +16 from the previous report	40 out of 100, neutral, +1 from the previous report	41 out of 100, neutral, +1 from the previous report	21 out of 100, neutral, −20 from the previous report	30 out of 100, neutral, +9 from the previous report	39 out of 100, neutral, +9 from the previous report	47 out of 100, neutral, +8 from the previous report	52 out of 100, neutral, +5 from the previous report	Net short
Chicago Wheat	89 out of 100, extremely high, +1 from the previous report	93 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, +7 from the previous report	98 out of 100, extremely high, −2 from the previous report	96 out of 100, extremely high, −2 from the previous report	91 out of 100, extremely high, −5 from the previous report	87 out of 100, extremely high, −4 from the previous report	84 out of 100, high, −3 from the previous report	84 out of 100, high, unchanged from the previous report	73 out of 100, neutral, −11 from the previous report	61 out of 100, neutral, −12 from the previous report	51 out of 100, neutral, −10 from the previous report	Net short
Class III Milk	22 out of 100, low, +6 from the previous report	20 out of 100, low, −2 from the previous report	27 out of 100, neutral, +7 from the previous report	14 out of 100, low, −13 from the previous report	10 out of 100, extremely low, −4 from the previous report	4 out of 100, extremely low, −6 from the previous report	8 out of 100, extremely low, +4 from the previous report	0 out of 100, extremely low, −8 from the previous report	0 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, +2 from the previous report	11 out of 100, extremely low, +9 from the previous report	13 out of 100, extremely low, +2 from the previous report	Net short
Class IV Milk	68 out of 100, neutral, +6 from the previous report	82 out of 100, high, +14 from the previous report	96 out of 100, extremely high, +14 from the previous report	97 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, +3 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −1 from the previous report	Net long
Cocoa	14 out of 100, low, −6 from the previous report	13 out of 100, low, −1 from the previous report	24 out of 100, low, +11 from the previous report	17 out of 100, low, −7 from the previous report	15 out of 100, low, −2 from the previous report	4 out of 100, extremely low, −11 from the previous report	4 out of 100, extremely low, unchanged from the previous report	14 out of 100, extremely low, +10 from the previous report	11 out of 100, extremely low, −3 from the previous report	20 out of 100, low, +9 from the previous report	16 out of 100, low, −4 from the previous report	11 out of 100, low, −5 from the previous report	Net short
Coffee	32 out of 100, neutral, unchanged from the previous report	32 out of 100, neutral, unchanged from the previous report	25 out of 100, neutral, −7 from the previous report	14 out of 100, low, −11 from the previous report	13 out of 100, low, −1 from the previous report	7 out of 100, extremely low, −6 from the previous report	7 out of 100, extremely low, unchanged from the previous report	10 out of 100, extremely low, +3 from the previous report	4 out of 100, extremely low, −6 from the previous report	11 out of 100, extremely low, +7 from the previous report	9 out of 100, extremely low, −2 from the previous report	2 out of 100, extremely low, −7 from the previous report	Net long
Corn	87 out of 100, high, +5 from the previous report	100 out of 100, extremely high, +13 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −1 from the previous report	95 out of 100, extremely high, −2 from the previous report	86 out of 100, extremely high, −9 from the previous report	79 out of 100, high, −7 from the previous report	68 out of 100, neutral, −11 from the previous report	62 out of 100, neutral, −6 from the previous report	Net long
Cotton	92 out of 100, extremely high, +1 from the previous report	94 out of 100, extremely high, +2 from the previous report	95 out of 100, extremely high, +1 from the previous report	94 out of 100, extremely high, −1 from the previous report	93 out of 100, extremely high, −1 from the previous report	90 out of 100, extremely high, −3 from the previous report	88 out of 100, extremely high, −2 from the previous report	85 out of 100, high, −3 from the previous report	84 out of 100, high, −1 from the previous report	85 out of 100, high, +1 from the previous report	79 out of 100, high, −6 from the previous report	77 out of 100, high, −2 from the previous report	Net long
Feeder Cattle	34 out of 100, neutral, −3 from the previous report	29 out of 100, neutral, −5 from the previous report	29 out of 100, neutral, unchanged from the previous report	27 out of 100, neutral, −2 from the previous report	27 out of 100, neutral, unchanged from the previous report	30 out of 100, neutral, +3 from the previous report	32 out of 100, neutral, +2 from the previous report	36 out of 100, neutral, +4 from the previous report	36 out of 100, neutral, unchanged from the previous report	42 out of 100, neutral, +6 from the previous report	47 out of 100, neutral, +5 from the previous report	48 out of 100, neutral, +1 from the previous report	Net long
KC HRW Wheat	98 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, +2 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	97 out of 100, extremely high, −1 from the previous report	92 out of 100, extremely high, −5 from the previous report	88 out of 100, extremely high, −4 from the previous report	86 out of 100, extremely high, −2 from the previous report	81 out of 100, high, −5 from the previous report	79 out of 100, high, −2 from the previous report	77 out of 100, high, −2 from the previous report	Net short
Lean Hogs	3 out of 100, extremely low, −2 from the previous report	2 out of 100, extremely low, −1 from the previous report	3 out of 100, extremely low, +1 from the previous report	5 out of 100, extremely low, +2 from the previous report	2 out of 100, extremely low, −3 from the previous report	1 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, −1 from the previous report	2 out of 100, extremely low, +2 from the previous report	1 out of 100, extremely low, −1 from the previous report	2 out of 100, extremely low, +1 from the previous report	1 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, −1 from the previous report	Net short
Live Cattle	32 out of 100, neutral, −1 from the previous report	26 out of 100, neutral, −6 from the previous report	16 out of 100, low, −10 from the previous report	17 out of 100, low, +1 from the previous report	18 out of 100, low, +1 from the previous report	19 out of 100, low, +1 from the previous report	21 out of 100, low, +2 from the previous report	20 out of 100, low, −1 from the previous report	17 out of 100, low, −3 from the previous report	21 out of 100, low, +4 from the previous report	26 out of 100, neutral, +5 from the previous report	21 out of 100, neutral, −5 from the previous report	Net long
Lumber	26 out of 100, neutral, −13 from the previous report	24 out of 100, neutral, −2 from the previous report	9 out of 100, extremely low, −15 from the previous report	4 out of 100, extremely low, −5 from the previous report	4 out of 100, extremely low, unchanged from the previous report	6 out of 100, extremely low, +2 from the previous report	4 out of 100, extremely low, −2 from the previous report	8 out of 100, extremely low, +4 from the previous report	8 out of 100, extremely low, unchanged from the previous report	10 out of 100, extremely low, +2 from the previous report	1 out of 100, extremely low, −9 from the previous report	0 out of 100, extremely low, −1 from the previous report	Net short
Nonfat Dry Milk	3 out of 100, extremely low, −1 from the previous report	5 out of 100, extremely low, +2 from the previous report	5 out of 100, extremely low, unchanged from the previous report	5 out of 100, extremely low, unchanged from the previous report	4 out of 100, extremely low, −1 from the previous report	3 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, −3 from the previous report	0 out of 100, extremely low, unchanged from the previous report	1 out of 100, extremely low, +1 from the previous report	0 out of 100, extremely low, −1 from the previous report	5 out of 100, extremely low, +5 from the previous report	2 out of 100, extremely low, −3 from the previous report	Net short
Orange Juice	8 out of 100, extremely low, −1 from the previous report	11 out of 100, extremely low, +3 from the previous report	10 out of 100, extremely low, −1 from the previous report	13 out of 100, extremely low, +3 from the previous report	13 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, −2 from the previous report	13 out of 100, extremely low, +2 from the previous report	14 out of 100, extremely low, +1 from the previous report	16 out of 100, low, +2 from the previous report	18 out of 100, low, +2 from the previous report	12 out of 100, low, −6 from the previous report	9 out of 100, extremely low, −3 from the previous report	Net short
Palm Oil	2 out of 100, extremely low, −2 from the previous report	2 out of 100, extremely low, unchanged from the previous report	5 out of 100, extremely low, +3 from the previous report	11 out of 100, extremely low, +6 from the previous report	5 out of 100, extremely low, −6 from the previous report	3 out of 100, extremely low, −2 from the previous report	3 out of 100, extremely low, unchanged from the previous report	22 out of 100, low, +19 from the previous report	22 out of 100, low, unchanged from the previous report	22 out of 100, low, unchanged from the previous report	21 out of 100, low, −1 from the previous report	44 out of 100, neutral, +23 from the previous report	Net short
Rough Rice	74 out of 100, neutral, unchanged from the previous report	77 out of 100, neutral, +3 from the previous report	78 out of 100, neutral, +1 from the previous report	80 out of 100, high, +2 from the previous report	83 out of 100, high, +3 from the previous report	80 out of 100, high, −3 from the previous report	85 out of 100, high, +5 from the previous report	84 out of 100, high, −1 from the previous report	87 out of 100, high, +3 from the previous report	88 out of 100, high, +1 from the previous report	88 out of 100, high, unchanged from the previous report	88 out of 100, high, unchanged from the previous report	Net long
Soybean Meal	76 out of 100, neutral, +2 from the previous report	81 out of 100, high, +5 from the previous report	97 out of 100, extremely high, +16 from the previous report	96 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −1 from the previous report	80 out of 100, high, −17 from the previous report	Net long
Soybean Oil	88 out of 100, extremely high, +2 from the previous report	86 out of 100, extremely high, −2 from the previous report	89 out of 100, extremely high, +3 from the previous report	88 out of 100, extremely high, −1 from the previous report	91 out of 100, extremely high, +3 from the previous report	86 out of 100, extremely high, −5 from the previous report	86 out of 100, extremely high, unchanged from the previous report	91 out of 100, extremely high, +5 from the previous report	86 out of 100, extremely high, −5 from the previous report	79 out of 100, high, −7 from the previous report	76 out of 100, high, −3 from the previous report	66 out of 100, neutral, −10 from the previous report	Net long
Soybeans	85 out of 100, high, +6 from the previous report	94 out of 100, extremely high, +9 from the previous report	98 out of 100, extremely high, +4 from the previous report	99 out of 100, extremely high, +1 from the previous report	95 out of 100, extremely high, −4 from the previous report	98 out of 100, extremely high, +3 from the previous report	96 out of 100, extremely high, −2 from the previous report	97 out of 100, extremely high, +1 from the previous report	97 out of 100, extremely high, unchanged from the previous report	88 out of 100, extremely high, −9 from the previous report	86 out of 100, extremely high, −2 from the previous report	78 out of 100, high, −8 from the previous report	Net long
Spring Wheat	91 out of 100, extremely high, unchanged from the previous report	91 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, +6 from the previous report	97 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, unchanged from the previous report	94 out of 100, extremely high, −3 from the previous report	89 out of 100, extremely high, −5 from the previous report	88 out of 100, extremely high, −1 from the previous report	86 out of 100, extremely high, −2 from the previous report	79 out of 100, high, −7 from the previous report	74 out of 100, neutral, −5 from the previous report	67 out of 100, neutral, −7 from the previous report	Net short
Sugar No. 11	86 out of 100, high, +25 from the previous report	91 out of 100, extremely high, +5 from the previous report	92 out of 100, extremely high, +1 from the previous report	93 out of 100, extremely high, +1 from the previous report	93 out of 100, extremely high, unchanged from the previous report	95 out of 100, extremely high, +2 from the previous report	95 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, +3 from the previous report	100 out of 100, extremely high, +2 from the previous report	99 out of 100, extremely high, −1 from the previous report	95 out of 100, extremely high, −4 from the previous report	95 out of 100, extremely high, unchanged from the previous report	Net long
Carbon Credits & Green Energy
California Carbon Allowances (Current Auction)	79 out of 100, neutral, +16 from the previous report	80 out of 100, neutral, +1 from the previous report	64 out of 100, neutral, −16 from the previous report	64 out of 100, neutral, unchanged from the previous report	73 out of 100, neutral, +9 from the previous report	70 out of 100, neutral, −3 from the previous report	62 out of 100, neutral, −8 from the previous report	64 out of 100, neutral, +2 from the previous report	69 out of 100, neutral, +5 from the previous report	72 out of 100, neutral, +3 from the previous report	79 out of 100, neutral, +7 from the previous report	86 out of 100, high, +7 from the previous report	Net short
California LCFS Credits	66 out of 100, neutral, −2 from the previous report	59 out of 100, neutral, −7 from the previous report	61 out of 100, neutral, +2 from the previous report	53 out of 100, neutral, −8 from the previous report	54 out of 100, neutral, +1 from the previous report	52 out of 100, neutral, −2 from the previous report	52 out of 100, neutral, unchanged from the previous report	54 out of 100, neutral, +2 from the previous report	48 out of 100, neutral, −6 from the previous report	47 out of 100, neutral, −1 from the previous report	48 out of 100, neutral, +1 from the previous report	45 out of 100, neutral, −3 from the previous report	Net long
D4 Biodiesel RINs (Current Year)	11 out of 100, low, −6 from the previous report	40 out of 100, neutral, +29 from the previous report	13 out of 100, low, −27 from the previous report	14 out of 100, low, +1 from the previous report	11 out of 100, low, −3 from the previous report	18 out of 100, low, +7 from the previous report	23 out of 100, low, +5 from the previous report	24 out of 100, low, +1 from the previous report	26 out of 100, neutral, +2 from the previous report	23 out of 100, neutral, −3 from the previous report	10 out of 100, extremely low, −13 from the previous report	9 out of 100, extremely low, −1 from the previous report	Net long
D6 RINs (Current Year)	78 out of 100, neutral, +1 from the previous report	63 out of 100, neutral, −15 from the previous report	67 out of 100, neutral, +4 from the previous report	66 out of 100, neutral, −1 from the previous report	63 out of 100, neutral, −3 from the previous report	62 out of 100, neutral, −1 from the previous report	64 out of 100, neutral, +2 from the previous report	62 out of 100, neutral, −2 from the previous report	60 out of 100, neutral, −2 from the previous report	54 out of 100, neutral, −6 from the previous report	59 out of 100, neutral, +5 from the previous report	57 out of 100, neutral, −2 from the previous report	Net long
Pennsylvania Tier 1 AECs	11 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, unchanged from the previous report	12 out of 100, extremely low, +1 from the previous report	11 out of 100, extremely low, −1 from the previous report	11 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, unchanged from the previous report	Net long
PJM Tri-RECs Class 1	2 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, unchanged from the previous report	3 out of 100, extremely low, +1 from the previous report	4 out of 100, extremely low, +1 from the previous report	4 out of 100, extremely low, unchanged from the previous report	4 out of 100, extremely low, unchanged from the previous report	4 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, −2 from the previous report	0 out of 100, extremely low, −2 from the previous report	1 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, +1 from the previous report	Net short
Cryptocurrencies
Bitcoin	95 out of 100, extremely high, −1 from the previous report	89 out of 100, extremely high, −6 from the previous report	84 out of 100, high, −5 from the previous report	88 out of 100, high, +4 from the previous report	98 out of 100, extremely high, +10 from the previous report	91 out of 100, extremely high, −7 from the previous report	92 out of 100, extremely high, +1 from the previous report	96 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	Net short
Ether	76 out of 100, high, −4 from the previous report	50 out of 100, neutral, −26 from the previous report	73 out of 100, neutral, +23 from the previous report	61 out of 100, neutral, −12 from the previous report	63 out of 100, neutral, +2 from the previous report	30 out of 100, neutral, −33 from the previous report	56 out of 100, neutral, +26 from the previous report	59 out of 100, neutral, +3 from the previous report	70 out of 100, neutral, +11 from the previous report	84 out of 100, high, +14 from the previous report	91 out of 100, extremely high, +7 from the previous report	88 out of 100, extremely high, −3 from the previous report	Net short
Micro Bitcoin	88 out of 100, high, +2 from the previous report	61 out of 100, neutral, −27 from the previous report	76 out of 100, neutral, +15 from the previous report	66 out of 100, neutral, −10 from the previous report	55 out of 100, neutral, −11 from the previous report	63 out of 100, neutral, +8 from the previous report	20 out of 100, low, −43 from the previous report	15 out of 100, low, −5 from the previous report	23 out of 100, low, +8 from the previous report	32 out of 100, neutral, +9 from the previous report	29 out of 100, neutral, −3 from the previous report	57 out of 100, neutral, +28 from the previous report	Net short
Micro Ether	22 out of 100, low, +5 from the previous report	11 out of 100, low, −11 from the previous report	8 out of 100, extremely low, −3 from the previous report	5 out of 100, extremely low, −3 from the previous report	7 out of 100, extremely low, +2 from the previous report	5 out of 100, extremely low, −2 from the previous report	17 out of 100, low, +12 from the previous report	22 out of 100, low, +5 from the previous report	20 out of 100, low, −2 from the previous report	30 out of 100, neutral, +10 from the previous report	38 out of 100, neutral, +8 from the previous report	29 out of 100, neutral, −9 from the previous report	Net short
Nano Bitcoin	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	81 out of 100, high, no previous figure	85 out of 100, high, +4 from the previous report	Net short
Nano Ether	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	68 out of 100, neutral, no previous figure	Net short
Currencies & Forex
Australian Dollar	90 out of 100, extremely high, −1 from the previous report	85 out of 100, high, −5 from the previous report	78 out of 100, high, −7 from the previous report	75 out of 100, neutral, −3 from the previous report	77 out of 100, neutral, +2 from the previous report	93 out of 100, extremely high, +16 from the previous report	94 out of 100, extremely high, +1 from the previous report	84 out of 100, high, −10 from the previous report	81 out of 100, high, −3 from the previous report	82 out of 100, high, +1 from the previous report	80 out of 100, high, −2 from the previous report	82 out of 100, high, +2 from the previous report	Net long
Brazilian Real	89 out of 100, high, +14 from the previous report	88 out of 100, high, −1 from the previous report	92 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, +8 from the previous report	93 out of 100, extremely high, −7 from the previous report	91 out of 100, extremely high, −2 from the previous report	72 out of 100, neutral, −19 from the previous report	99 out of 100, extremely high, +27 from the previous report	98 out of 100, extremely high, −1 from the previous report	92 out of 100, extremely high, −6 from the previous report	67 out of 100, neutral, −25 from the previous report	99 out of 100, extremely high, +32 from the previous report	Net long
British Pound	44 out of 100, neutral, −6 from the previous report	45 out of 100, neutral, +1 from the previous report	39 out of 100, neutral, −6 from the previous report	29 out of 100, neutral, −10 from the previous report	14 out of 100, low, −15 from the previous report	13 out of 100, low, −1 from the previous report	5 out of 100, extremely low, −8 from the previous report	10 out of 100, extremely low, +5 from the previous report	9 out of 100, extremely low, −1 from the previous report	25 out of 100, low, +16 from the previous report	20 out of 100, low, −5 from the previous report	32 out of 100, neutral, +12 from the previous report	Net long
Canadian Dollar	25 out of 100, low, +5 from the previous report	39 out of 100, neutral, +14 from the previous report	46 out of 100, neutral, +7 from the previous report	75 out of 100, neutral, +29 from the previous report	98 out of 100, extremely high, +23 from the previous report	83 out of 100, high, −15 from the previous report	48 out of 100, neutral, −35 from the previous report	41 out of 100, neutral, −7 from the previous report	36 out of 100, neutral, −5 from the previous report	34 out of 100, neutral, −2 from the previous report	11 out of 100, low, −23 from the previous report	25 out of 100, neutral, +14 from the previous report	Net short
EUR/GBP	99 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	93 out of 100, extremely high, −6 from the previous report	97 out of 100, extremely high, +4 from the previous report	99 out of 100, extremely high, +2 from the previous report	100 out of 100, extremely high, +1 from the previous report	99 out of 100, extremely high, −1 from the previous report	97 out of 100, extremely high, −2 from the previous report	100 out of 100, extremely high, +3 from the previous report	97 out of 100, extremely high, −3 from the previous report	Net long
Euro FX	2 out of 100, extremely low, unchanged from the previous report	13 out of 100, extremely low, +11 from the previous report	15 out of 100, low, +2 from the previous report	18 out of 100, low, +3 from the previous report	21 out of 100, low, +3 from the previous report	21 out of 100, low, unchanged from the previous report	13 out of 100, low, −8 from the previous report	13 out of 100, low, unchanged from the previous report	2 out of 100, extremely low, −11 from the previous report	1 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, unchanged from the previous report	Net short
Japanese Yen	43 out of 100, neutral, −19 from the previous report	32 out of 100, neutral, −11 from the previous report	16 out of 100, low, −16 from the previous report	71 out of 100, neutral, +55 from the previous report	91 out of 100, extremely high, +20 from the previous report	88 out of 100, extremely high, −3 from the previous report	79 out of 100, high, −9 from the previous report	75 out of 100, neutral, −4 from the previous report	70 out of 100, neutral, −5 from the previous report	77 out of 100, neutral, +7 from the previous report	79 out of 100, neutral, +2 from the previous report	79 out of 100, neutral, unchanged from the previous report	Net short
Mexican Peso	79 out of 100, high, −16 from the previous report	82 out of 100, high, +3 from the previous report	80 out of 100, high, −2 from the previous report	83 out of 100, high, +3 from the previous report	91 out of 100, extremely high, +8 from the previous report	95 out of 100, extremely high, +4 from the previous report	93 out of 100, extremely high, −2 from the previous report	83 out of 100, high, −10 from the previous report	73 out of 100, neutral, −10 from the previous report	73 out of 100, neutral, unchanged from the previous report	79 out of 100, neutral, +6 from the previous report	80 out of 100, high, +1 from the previous report	Net long
New Zealand Dollar	1 out of 100, extremely low, +1 from the previous report	0 out of 100, extremely low, −1 from the previous report	13 out of 100, extremely low, +13 from the previous report	32 out of 100, neutral, +19 from the previous report	57 out of 100, neutral, +25 from the previous report	54 out of 100, neutral, −3 from the previous report	58 out of 100, neutral, +4 from the previous report	59 out of 100, neutral, +1 from the previous report	44 out of 100, neutral, −15 from the previous report	29 out of 100, neutral, −15 from the previous report	18 out of 100, low, −11 from the previous report	19 out of 100, low, +1 from the previous report	Net short
South African Rand	49 out of 100, neutral, +1 from the previous report	54 out of 100, neutral, +5 from the previous report	49 out of 100, neutral, −5 from the previous report	41 out of 100, neutral, −8 from the previous report	54 out of 100, neutral, +13 from the previous report	59 out of 100, neutral, +5 from the previous report	66 out of 100, neutral, +7 from the previous report	63 out of 100, neutral, −3 from the previous report	63 out of 100, neutral, unchanged from the previous report	63 out of 100, neutral, unchanged from the previous report	67 out of 100, neutral, +4 from the previous report	73 out of 100, neutral, +6 from the previous report	Net long
Swiss Franc	35 out of 100, neutral, +10 from the previous report	35 out of 100, neutral, unchanged from the previous report	36 out of 100, neutral, +1 from the previous report	31 out of 100, neutral, −5 from the previous report	32 out of 100, neutral, +1 from the previous report	20 out of 100, low, −12 from the previous report	26 out of 100, neutral, +6 from the previous report	36 out of 100, neutral, +10 from the previous report	24 out of 100, neutral, −12 from the previous report	28 out of 100, neutral, +4 from the previous report	18 out of 100, low, −10 from the previous report	19 out of 100, low, +1 from the previous report	Net short
US Dollar Index	84 out of 100, high, +4 from the previous report	85 out of 100, high, +1 from the previous report	79 out of 100, high, −6 from the previous report	76 out of 100, high, −3 from the previous report	42 out of 100, neutral, −34 from the previous report	45 out of 100, neutral, +3 from the previous report	59 out of 100, neutral, +14 from the previous report	61 out of 100, neutral, +2 from the previous report	64 out of 100, neutral, +3 from the previous report	69 out of 100, neutral, +5 from the previous report	70 out of 100, neutral, +1 from the previous report	70 out of 100, neutral, unchanged from the previous report	Net long
Electricity & Power
CAISO NP-15 Day-Ahead Off-Peak	63 out of 100, neutral, −1 from the previous report	54 out of 100, neutral, −9 from the previous report	36 out of 100, neutral, −18 from the previous report	49 out of 100, neutral, +13 from the previous report	39 out of 100, neutral, −10 from the previous report	43 out of 100, neutral, +4 from the previous report	45 out of 100, neutral, +2 from the previous report	66 out of 100, neutral, +21 from the previous report	93 out of 100, extremely high, +27 from the previous report	99 out of 100, extremely high, +6 from the previous report	100 out of 100, extremely high, +1 from the previous report	99 out of 100, extremely high, −1 from the previous report	Net short
CAISO NP-15 Peak	91 out of 100, extremely high, +10 from the previous report	88 out of 100, extremely high, −3 from the previous report	93 out of 100, extremely high, +5 from the previous report	94 out of 100, extremely high, +1 from the previous report	95 out of 100, extremely high, +1 from the previous report	91 out of 100, extremely high, −4 from the previous report	93 out of 100, extremely high, +2 from the previous report	100 out of 100, extremely high, +7 from the previous report	98 out of 100, extremely high, −2 from the previous report	97 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, +2 from the previous report	Net short
CAISO SP-15	5 out of 100, extremely low, unchanged from the previous report	9 out of 100, extremely low, +4 from the previous report	11 out of 100, extremely low, +2 from the previous report	29 out of 100, neutral, +18 from the previous report	25 out of 100, neutral, −4 from the previous report	25 out of 100, neutral, unchanged from the previous report	20 out of 100, neutral, −5 from the previous report	38 out of 100, neutral, +18 from the previous report	28 out of 100, neutral, −10 from the previous report	28 out of 100, neutral, unchanged from the previous report	32 out of 100, neutral, +4 from the previous report	33 out of 100, neutral, +1 from the previous report	Net short
CAISO SP-15 Day-Ahead Off-Peak	99 out of 100, extremely high, unchanged from the previous report	94 out of 100, extremely high, −5 from the previous report	97 out of 100, extremely high, +3 from the previous report	94 out of 100, extremely high, −3 from the previous report	93 out of 100, extremely high, −1 from the previous report	92 out of 100, extremely high, −1 from the previous report	94 out of 100, extremely high, +2 from the previous report	93 out of 100, extremely high, −1 from the previous report	89 out of 100, extremely high, −4 from the previous report	86 out of 100, extremely high, −3 from the previous report	84 out of 100, high, −2 from the previous report	84 out of 100, high, unchanged from the previous report	Net short
ERCOT Houston 345 kV Real-Time Off-Peak	86 out of 100, extremely high, −1 from the previous report	71 out of 100, neutral, −15 from the previous report	70 out of 100, neutral, −1 from the previous report	69 out of 100, neutral, −1 from the previous report	68 out of 100, neutral, −1 from the previous report	73 out of 100, neutral, +5 from the previous report	75 out of 100, neutral, +2 from the previous report	78 out of 100, neutral, +3 from the previous report	78 out of 100, neutral, unchanged from the previous report	78 out of 100, neutral, unchanged from the previous report	75 out of 100, neutral, −3 from the previous report	78 out of 100, neutral, +3 from the previous report	Net long
ERCOT Houston 345 kV Real-Time Peak	88 out of 100, extremely high, unchanged from the previous report	72 out of 100, neutral, −16 from the previous report	72 out of 100, neutral, unchanged from the previous report	71 out of 100, neutral, −1 from the previous report	70 out of 100, neutral, −1 from the previous report	78 out of 100, neutral, +8 from the previous report	79 out of 100, neutral, +1 from the previous report	79 out of 100, neutral, unchanged from the previous report	79 out of 100, neutral, unchanged from the previous report	79 out of 100, neutral, unchanged from the previous report	76 out of 100, neutral, −3 from the previous report	79 out of 100, neutral, +3 from the previous report	Net long
ERCOT North 345 kV Hub Real-Time 7x16	18 out of 100, low, +2 from the previous report	19 out of 100, low, +1 from the previous report	19 out of 100, low, unchanged from the previous report	20 out of 100, low, +1 from the previous report	17 out of 100, low, −3 from the previous report	17 out of 100, low, unchanged from the previous report	7 out of 100, extremely low, −10 from the previous report	7 out of 100, extremely low, unchanged from the previous report	8 out of 100, extremely low, +1 from the previous report	8 out of 100, extremely low, unchanged from the previous report	9 out of 100, extremely low, +1 from the previous report	10 out of 100, extremely low, +1 from the previous report	Net short
ERCOT North 345 kV Hub Real-Time 7x8	86 out of 100, extremely high, −2 from the previous report	88 out of 100, extremely high, +2 from the previous report	100 out of 100, extremely high, +12 from the previous report	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +2 from the previous report	95 out of 100, extremely high, −5 from the previous report	92 out of 100, extremely high, −3 from the previous report	87 out of 100, extremely high, −5 from the previous report	86 out of 100, extremely high, −1 from the previous report	86 out of 100, extremely high, unchanged from the previous report	84 out of 100, high, −2 from the previous report	Net long
ERCOT North 345 kV Real-Time Peak	44 out of 100, neutral, −8 from the previous report	48 out of 100, neutral, +4 from the previous report	47 out of 100, neutral, −1 from the previous report	53 out of 100, neutral, +6 from the previous report	54 out of 100, neutral, +1 from the previous report	57 out of 100, neutral, +3 from the previous report	56 out of 100, neutral, −1 from the previous report	53 out of 100, neutral, −3 from the previous report	66 out of 100, neutral, +13 from the previous report	63 out of 100, neutral, −3 from the previous report	50 out of 100, neutral, −13 from the previous report	45 out of 100, neutral, −5 from the previous report	Net long
ERCOT North 345 kV Real-Time Peak (Daily)	90 out of 100, extremely high, +48 from the previous report	89 out of 100, extremely high, −1 from the previous report	70 out of 100, neutral, −19 from the previous report	65 out of 100, neutral, −5 from the previous report	78 out of 100, neutral, +13 from the previous report	73 out of 100, neutral, −5 from the previous report	91 out of 100, extremely high, +18 from the previous report	64 out of 100, neutral, −27 from the previous report	43 out of 100, neutral, −21 from the previous report	39 out of 100, neutral, −4 from the previous report	39 out of 100, neutral, unchanged from the previous report	26 out of 100, neutral, −13 from the previous report	Net short
ERCOT North 345 kV Real-Time Peak 2x16	75 out of 100, high, −1 from the previous report	75 out of 100, high, unchanged from the previous report	73 out of 100, neutral, −2 from the previous report	72 out of 100, neutral, −1 from the previous report	73 out of 100, neutral, +1 from the previous report	72 out of 100, neutral, −1 from the previous report	72 out of 100, neutral, unchanged from the previous report	67 out of 100, neutral, −5 from the previous report	65 out of 100, neutral, −2 from the previous report	64 out of 100, neutral, −1 from the previous report	72 out of 100, neutral, +8 from the previous report	72 out of 100, neutral, unchanged from the previous report	Net long
ERCOT North Hub Real-Time Peak (Monthly)	9 out of 100, extremely low, unchanged from the previous report	10 out of 100, extremely low, +1 from the previous report	10 out of 100, extremely low, unchanged from the previous report	11 out of 100, extremely low, +1 from the previous report	7 out of 100, extremely low, −4 from the previous report	7 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, −7 from the previous report	1 out of 100, extremely low, +1 from the previous report	0 out of 100, extremely low, −1 from the previous report	2 out of 100, extremely low, +2 from the previous report	0 out of 100, extremely low, −2 from the previous report	1 out of 100, extremely low, +1 from the previous report	Net short
ERCOT North Off-Peak (Monthly)	1 out of 100, extremely low, +1 from the previous report	1 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, +1 from the previous report	3 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, −2 from the previous report	0 out of 100, extremely low, unchanged from the previous report	1 out of 100, extremely low, +1 from the previous report	0 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, unchanged from the previous report	Net short
ERCOT South 345 kV Real-Time Peak	73 out of 100, neutral, +1 from the previous report	73 out of 100, neutral, unchanged from the previous report	74 out of 100, neutral, +1 from the previous report	73 out of 100, neutral, −1 from the previous report	70 out of 100, neutral, −3 from the previous report	70 out of 100, neutral, unchanged from the previous report	70 out of 100, neutral, unchanged from the previous report	70 out of 100, neutral, unchanged from the previous report	68 out of 100, neutral, −2 from the previous report	68 out of 100, neutral, unchanged from the previous report	100 out of 100, extremely high, +32 from the previous report	100 out of 100, extremely high, unchanged from the previous report	Net short
ERCOT South Off-Peak (Monthly)	76 out of 100, neutral, +2 from the previous report	78 out of 100, neutral, +2 from the previous report	78 out of 100, neutral, unchanged from the previous report	78 out of 100, neutral, unchanged from the previous report	70 out of 100, neutral, −8 from the previous report	70 out of 100, neutral, unchanged from the previous report	71 out of 100, neutral, +1 from the previous report	71 out of 100, neutral, unchanged from the previous report	67 out of 100, neutral, −4 from the previous report	67 out of 100, neutral, unchanged from the previous report	100 out of 100, extremely high, +33 from the previous report	99 out of 100, extremely high, −1 from the previous report	Net short
ERCOT West 345 kV Real-Time Off-Peak	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	Net short
ERCOT West 345 kV Real-Time Peak	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	95 out of 100, extremely high, −5 from the previous report	94 out of 100, extremely high, −1 from the previous report	94 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, +6 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	Net short
ISO New England	0 out of 100, extremely low, −12 from the previous report	0 out of 100, extremely low, unchanged from the previous report	1 out of 100, extremely low, +1 from the previous report	7 out of 100, extremely low, +6 from the previous report	19 out of 100, low, +12 from the previous report	17 out of 100, low, −2 from the previous report	20 out of 100, low, +3 from the previous report	28 out of 100, neutral, +8 from the previous report	31 out of 100, neutral, +3 from the previous report	28 out of 100, neutral, −3 from the previous report	26 out of 100, neutral, −2 from the previous report	23 out of 100, neutral, −3 from the previous report	Net short
ISO New England Mass Hub Day-Ahead Off-Peak	0 out of 100, extremely low, −2 from the previous report	2 out of 100, extremely low, +2 from the previous report	2 out of 100, extremely low, unchanged from the previous report	15 out of 100, low, +13 from the previous report	61 out of 100, neutral, +46 from the previous report	22 out of 100, neutral, −39 from the previous report	4 out of 100, extremely low, −18 from the previous report	6 out of 100, extremely low, +2 from the previous report	0 out of 100, extremely low, −6 from the previous report	0 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, +2 from the previous report	Net short
Mid-C Day-Ahead Off-Peak	16 out of 100, low, +2 from the previous report	18 out of 100, low, +2 from the previous report	26 out of 100, neutral, +8 from the previous report	25 out of 100, neutral, −1 from the previous report	24 out of 100, neutral, −1 from the previous report	27 out of 100, neutral, +3 from the previous report	29 out of 100, neutral, +2 from the previous report	37 out of 100, neutral, +8 from the previous report	68 out of 100, neutral, +31 from the previous report	70 out of 100, neutral, +2 from the previous report	84 out of 100, high, +14 from the previous report	97 out of 100, extremely high, +13 from the previous report	Net long
Mid-C Day-Ahead Peak	11 out of 100, extremely low, +2 from the previous report	12 out of 100, extremely low, +1 from the previous report	25 out of 100, low, +13 from the previous report	20 out of 100, low, −5 from the previous report	17 out of 100, low, −3 from the previous report	19 out of 100, low, +2 from the previous report	14 out of 100, low, −5 from the previous report	54 out of 100, neutral, +40 from the previous report	45 out of 100, neutral, −9 from the previous report	32 out of 100, neutral, −13 from the previous report	44 out of 100, neutral, +12 from the previous report	71 out of 100, neutral, +27 from the previous report	Net long, switched side in this report
MISO Indiana Hub Day-Ahead Peak	25 out of 100, neutral, −5 from the previous report	20 out of 100, low, −5 from the previous report	22 out of 100, low, +2 from the previous report	23 out of 100, low, +1 from the previous report	22 out of 100, low, −1 from the previous report	17 out of 100, low, −5 from the previous report	15 out of 100, low, −2 from the previous report	14 out of 100, low, −1 from the previous report	27 out of 100, neutral, +13 from the previous report	27 out of 100, neutral, unchanged from the previous report	25 out of 100, neutral, −2 from the previous report	24 out of 100, neutral, −1 from the previous report	Net short
MISO Indiana Hub Day-Ahead Peak (Monthly)	59 out of 100, neutral, +1 from the previous report	59 out of 100, neutral, unchanged from the previous report	60 out of 100, neutral, +1 from the previous report	61 out of 100, neutral, +1 from the previous report	61 out of 100, neutral, unchanged from the previous report	62 out of 100, neutral, +1 from the previous report	63 out of 100, neutral, +1 from the previous report	63 out of 100, neutral, unchanged from the previous report	64 out of 100, neutral, +1 from the previous report	64 out of 100, neutral, unchanged from the previous report	64 out of 100, neutral, unchanged from the previous report	65 out of 100, neutral, +1 from the previous report	Net short
MISO Indiana Hub Off-Peak	58 out of 100, neutral, −6 from the previous report	46 out of 100, neutral, −12 from the previous report	40 out of 100, neutral, −6 from the previous report	33 out of 100, neutral, −7 from the previous report	40 out of 100, neutral, +7 from the previous report	25 out of 100, neutral, −15 from the previous report	26 out of 100, neutral, +1 from the previous report	27 out of 100, neutral, +1 from the previous report	50 out of 100, neutral, +23 from the previous report	50 out of 100, neutral, unchanged from the previous report	54 out of 100, neutral, +4 from the previous report	50 out of 100, neutral, −4 from the previous report	Net short
MISO Indiana Hub Real-Time Off-Peak	71 out of 100, neutral, −2 from the previous report	61 out of 100, neutral, −10 from the previous report	61 out of 100, neutral, unchanged from the previous report	60 out of 100, neutral, −1 from the previous report	65 out of 100, neutral, +5 from the previous report	70 out of 100, neutral, +5 from the previous report	71 out of 100, neutral, +1 from the previous report	71 out of 100, neutral, unchanged from the previous report	90 out of 100, high, +19 from the previous report	85 out of 100, high, −5 from the previous report	82 out of 100, high, −3 from the previous report	82 out of 100, high, unchanged from the previous report	Net long
MISO Indiana Hub Real-Time Peak	61 out of 100, neutral, −1 from the previous report	58 out of 100, neutral, −3 from the previous report	57 out of 100, neutral, −1 from the previous report	58 out of 100, neutral, +1 from the previous report	45 out of 100, neutral, −13 from the previous report	52 out of 100, neutral, +7 from the previous report	54 out of 100, neutral, +2 from the previous report	54 out of 100, neutral, unchanged from the previous report	55 out of 100, neutral, +1 from the previous report	55 out of 100, neutral, unchanged from the previous report	55 out of 100, neutral, unchanged from the previous report	55 out of 100, neutral, unchanged from the previous report	Net long
NYISO Hudson Valley Day-Ahead Off-Peak (Monthly)	34 out of 100, neutral, −10 from the previous report	100 out of 100, extremely high, +66 from the previous report	93 out of 100, extremely high, −7 from the previous report	96 out of 100, extremely high, +3 from the previous report	95 out of 100, extremely high, −1 from the previous report	95 out of 100, extremely high, unchanged from the previous report	61 out of 100, neutral, −34 from the previous report	62 out of 100, neutral, +1 from the previous report	59 out of 100, neutral, −3 from the previous report	50 out of 100, neutral, −9 from the previous report	52 out of 100, neutral, +2 from the previous report	38 out of 100, neutral, −14 from the previous report	Net short
NYISO Hudson Valley Day-Ahead Peak (Monthly)	9 out of 100, extremely low, −2 from the previous report	40 out of 100, neutral, +31 from the previous report	47 out of 100, neutral, +7 from the previous report	39 out of 100, neutral, −8 from the previous report	39 out of 100, neutral, unchanged from the previous report	40 out of 100, neutral, +1 from the previous report	66 out of 100, neutral, +26 from the previous report	66 out of 100, neutral, unchanged from the previous report	55 out of 100, neutral, −11 from the previous report	45 out of 100, neutral, −10 from the previous report	39 out of 100, neutral, −6 from the previous report	33 out of 100, neutral, −6 from the previous report	Net short
NYISO West Day-Ahead Off-Peak (Monthly)	61 out of 100, neutral, unchanged from the previous report	62 out of 100, neutral, +1 from the previous report	59 out of 100, neutral, −3 from the previous report	61 out of 100, neutral, +2 from the previous report	62 out of 100, neutral, +1 from the previous report	63 out of 100, neutral, +1 from the previous report	63 out of 100, neutral, unchanged from the previous report	66 out of 100, neutral, +3 from the previous report	66 out of 100, neutral, unchanged from the previous report	39 out of 100, neutral, −27 from the previous report	39 out of 100, neutral, unchanged from the previous report	40 out of 100, neutral, +1 from the previous report	Net short
NYISO Zone A Day-Ahead Off-Peak	32 out of 100, neutral, unchanged from the previous report	33 out of 100, neutral, +1 from the previous report	37 out of 100, neutral, +4 from the previous report	42 out of 100, neutral, +5 from the previous report	35 out of 100, neutral, −7 from the previous report	29 out of 100, neutral, −6 from the previous report	29 out of 100, neutral, unchanged from the previous report	27 out of 100, neutral, −2 from the previous report	27 out of 100, neutral, unchanged from the previous report	18 out of 100, low, −9 from the previous report	18 out of 100, low, unchanged from the previous report	26 out of 100, neutral, +8 from the previous report	Net long
NYISO Zone A Day-Ahead Peak	20 out of 100, low, +2 from the previous report	36 out of 100, neutral, +16 from the previous report	22 out of 100, neutral, −14 from the previous report	32 out of 100, neutral, +10 from the previous report	24 out of 100, neutral, −8 from the previous report	14 out of 100, low, −10 from the previous report	19 out of 100, low, +5 from the previous report	16 out of 100, low, −3 from the previous report	15 out of 100, low, −1 from the previous report	11 out of 100, low, −4 from the previous report	11 out of 100, low, unchanged from the previous report	13 out of 100, low, +2 from the previous report	Net short
NYISO Zone G Day-Ahead Off-Peak	0 out of 100, extremely low, −2 from the previous report	5 out of 100, extremely low, +5 from the previous report	8 out of 100, extremely low, +3 from the previous report	11 out of 100, extremely low, +3 from the previous report	0 out of 100, extremely low, −11 from the previous report	18 out of 100, low, +18 from the previous report	29 out of 100, neutral, +11 from the previous report	33 out of 100, neutral, +4 from the previous report	28 out of 100, neutral, −5 from the previous report	27 out of 100, neutral, −1 from the previous report	34 out of 100, neutral, +7 from the previous report	34 out of 100, neutral, unchanged from the previous report	Net short
NYISO Zone G Day-Ahead Peak	38 out of 100, neutral, −2 from the previous report	46 out of 100, neutral, +8 from the previous report	51 out of 100, neutral, +5 from the previous report	48 out of 100, neutral, −3 from the previous report	38 out of 100, neutral, −10 from the previous report	50 out of 100, neutral, +12 from the previous report	52 out of 100, neutral, +2 from the previous report	56 out of 100, neutral, +4 from the previous report	50 out of 100, neutral, −6 from the previous report	48 out of 100, neutral, −2 from the previous report	52 out of 100, neutral, +4 from the previous report	54 out of 100, neutral, +2 from the previous report	Net short
Palo Verde Day-Ahead Off-Peak	99 out of 100, extremely high, +1 from the previous report	99 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, +1 from the previous report	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +3 from the previous report	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	92 out of 100, extremely high, −8 from the previous report	92 out of 100, extremely high, unchanged from the previous report	Net long
Palo Verde Day-Ahead Peak	25 out of 100, neutral, unchanged from the previous report	27 out of 100, neutral, +2 from the previous report	29 out of 100, neutral, +2 from the previous report	29 out of 100, neutral, unchanged from the previous report	30 out of 100, neutral, +1 from the previous report	34 out of 100, neutral, +4 from the previous report	34 out of 100, neutral, unchanged from the previous report	39 out of 100, neutral, +5 from the previous report	39 out of 100, neutral, unchanged from the previous report	32 out of 100, neutral, −7 from the previous report	61 out of 100, neutral, +29 from the previous report	61 out of 100, neutral, unchanged from the previous report	Net long
PJM AEP Dayton Hub Day-Ahead Off-Peak	41 out of 100, neutral, +8 from the previous report	42 out of 100, neutral, +1 from the previous report	46 out of 100, neutral, +4 from the previous report	59 out of 100, neutral, +13 from the previous report	67 out of 100, neutral, +8 from the previous report	67 out of 100, neutral, unchanged from the previous report	65 out of 100, neutral, −2 from the previous report	67 out of 100, neutral, +2 from the previous report	63 out of 100, neutral, −4 from the previous report	76 out of 100, neutral, +13 from the previous report	74 out of 100, neutral, −2 from the previous report	75 out of 100, neutral, +1 from the previous report	Net short
PJM AEP Dayton Hub Day-Ahead Off-Peak (Monthly)	73 out of 100, neutral, −2 from the previous report	86 out of 100, high, +13 from the previous report	100 out of 100, extremely high, +14 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	100 out of 100, extremely high, +2 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	46 out of 100, neutral, −52 from the previous report	41 out of 100, neutral, −5 from the previous report	Net short
PJM AEP Dayton Hub Day-Ahead Peak	41 out of 100, neutral, +7 from the previous report	43 out of 100, neutral, +2 from the previous report	45 out of 100, neutral, +2 from the previous report	61 out of 100, neutral, +16 from the previous report	66 out of 100, neutral, +5 from the previous report	69 out of 100, neutral, +3 from the previous report	66 out of 100, neutral, −3 from the previous report	64 out of 100, neutral, −2 from the previous report	65 out of 100, neutral, +1 from the previous report	64 out of 100, neutral, −1 from the previous report	63 out of 100, neutral, −1 from the previous report	64 out of 100, neutral, +1 from the previous report	Net short
PJM AEP Dayton Hub Day-Ahead Peak (Monthly)	64 out of 100, neutral, unchanged from the previous report	67 out of 100, neutral, +3 from the previous report	76 out of 100, neutral, +9 from the previous report	74 out of 100, neutral, −2 from the previous report	75 out of 100, neutral, +1 from the previous report	76 out of 100, neutral, +1 from the previous report	76 out of 100, neutral, unchanged from the previous report	76 out of 100, neutral, unchanged from the previous report	77 out of 100, neutral, +1 from the previous report	76 out of 100, neutral, −1 from the previous report	29 out of 100, neutral, −47 from the previous report	29 out of 100, neutral, unchanged from the previous report	Net short
PJM AEP Dayton Hub Real-Time Off-Peak	4 out of 100, extremely low, +4 from the previous report	2 out of 100, extremely low, −2 from the previous report	9 out of 100, extremely low, +7 from the previous report	7 out of 100, extremely low, −2 from the previous report	34 out of 100, neutral, +27 from the previous report	43 out of 100, neutral, +9 from the previous report	44 out of 100, neutral, +1 from the previous report	43 out of 100, neutral, −1 from the previous report	48 out of 100, neutral, +5 from the previous report	50 out of 100, neutral, +2 from the previous report	50 out of 100, neutral, unchanged from the previous report	50 out of 100, neutral, unchanged from the previous report	Net long
PJM AEP Dayton Hub Real-Time Off-Peak (Monthly)	1 out of 100, extremely low, +1 from the previous report	0 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, +2 from the previous report	2 out of 100, extremely low, unchanged from the previous report	3 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, −1 from the previous report	4 out of 100, extremely low, +2 from the previous report	5 out of 100, extremely low, +1 from the previous report	10 out of 100, extremely low, +5 from the previous report	11 out of 100, extremely low, +1 from the previous report	Net short
PJM AEP Dayton Hub Real-Time Peak	100 out of 100, extremely high, +8 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	Net long
PJM AEP Dayton Hub Real-Time Peak (Monthly)	1 out of 100, extremely low, +1 from the previous report	0 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, +2 from the previous report	2 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, unchanged from the previous report	3 out of 100, extremely low, +1 from the previous report	8 out of 100, extremely low, +5 from the previous report	8 out of 100, extremely low, unchanged from the previous report	Net short
PJM BGE Zone Day-Ahead Off-Peak (Monthly)	98 out of 100, extremely high, unchanged from the previous report	92 out of 100, extremely high, −6 from the previous report	89 out of 100, extremely high, −3 from the previous report	97 out of 100, extremely high, +8 from the previous report	99 out of 100, extremely high, +2 from the previous report	99 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	96 out of 100, extremely high, −2 from the previous report	30 out of 100, neutral, −66 from the previous report	29 out of 100, neutral, −1 from the previous report	Net long
PJM BGE Zone Day-Ahead Peak (Monthly)	97 out of 100, extremely high, unchanged from the previous report	91 out of 100, extremely high, −6 from the previous report	87 out of 100, extremely high, −4 from the previous report	93 out of 100, extremely high, +6 from the previous report	98 out of 100, extremely high, +5 from the previous report	99 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	96 out of 100, extremely high, −3 from the previous report	30 out of 100, neutral, −66 from the previous report	29 out of 100, neutral, −1 from the previous report	Net long
PJM JCP&L Zone Day-Ahead Off-Peak (Monthly)	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	6 out of 100, extremely low, no previous figure	5 out of 100, extremely low, −1 from the previous report	5 out of 100, extremely low, unchanged from the previous report	5 out of 100, extremely low, unchanged from the previous report	6 out of 100, extremely low, +1 from the previous report	6 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, −6 from the previous report	0 out of 100, extremely low, unchanged from the previous report	Net short
PJM JCP&L Zone Day-Ahead Peak (Monthly)	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	6 out of 100, extremely low, no previous figure	7 out of 100, extremely low, +1 from the previous report	7 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, −7 from the previous report	0 out of 100, extremely low, unchanged from the previous report	1 out of 100, extremely low, +1 from the previous report	0 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, unchanged from the previous report	Net short
PJM Met-Ed Zone Day-Ahead Peak (Monthly)	88 out of 100, high, no previous figure	80 out of 100, high, −8 from the previous report	80 out of 100, high, unchanged from the previous report	99 out of 100, extremely high, +19 from the previous report	99 out of 100, extremely high, unchanged from the previous report	68 out of 100, neutral, −31 from the previous report	68 out of 100, neutral, unchanged from the previous report	68 out of 100, neutral, unchanged from the previous report	68 out of 100, neutral, unchanged from the previous report	69 out of 100, neutral, +1 from the previous report	67 out of 100, neutral, −2 from the previous report	67 out of 100, neutral, unchanged from the previous report	Net short
PJM Northern Illinois Hub Day-Ahead Off-Peak	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	100 out of 100, extremely high, no previous figure	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	Net long
PJM Northern Illinois Hub Day-Ahead Peak	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	not enough history yet for a 3-year rank	99 out of 100, extremely high, no previous figure	100 out of 100, extremely high, +1 from the previous report	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	Net long
PJM Northern Illinois Hub Real-Time Off-Peak	93 out of 100, extremely high, unchanged from the previous report	94 out of 100, extremely high, +1 from the previous report	97 out of 100, extremely high, +3 from the previous report	99 out of 100, extremely high, +2 from the previous report	95 out of 100, extremely high, −4 from the previous report	94 out of 100, extremely high, −1 from the previous report	90 out of 100, extremely high, −4 from the previous report	75 out of 100, neutral, −15 from the previous report	72 out of 100, neutral, −3 from the previous report	75 out of 100, neutral, +3 from the previous report	74 out of 100, neutral, −1 from the previous report	70 out of 100, neutral, −4 from the previous report	Net long
PJM Northern Illinois Hub Real-Time Off-Peak (Monthly)	98 out of 100, extremely high, unchanged from the previous report	93 out of 100, extremely high, −5 from the previous report	92 out of 100, extremely high, −1 from the previous report	93 out of 100, extremely high, +1 from the previous report	92 out of 100, extremely high, −1 from the previous report	89 out of 100, extremely high, −3 from the previous report	89 out of 100, extremely high, unchanged from the previous report	90 out of 100, extremely high, +1 from the previous report	91 out of 100, extremely high, +1 from the previous report	95 out of 100, extremely high, +4 from the previous report	90 out of 100, extremely high, −5 from the previous report	79 out of 100, high, −11 from the previous report	Net long
PJM Northern Illinois Hub Real-Time Peak	100 out of 100, extremely high, +4 from the previous report	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, unchanged from the previous report	95 out of 100, extremely high, −3 from the previous report	Net long
PJM Northern Illinois Hub Real-Time Peak (Monthly)	96 out of 100, extremely high, −3 from the previous report	96 out of 100, extremely high, unchanged from the previous report	95 out of 100, extremely high, −1 from the previous report	99 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, +1 from the previous report	91 out of 100, extremely high, −9 from the previous report	91 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, +9 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	99 out of 100, extremely high, unchanged from the previous report	Net long
PJM PECO Zone Day-Ahead Off-Peak (Monthly)	68 out of 100, neutral, −1 from the previous report	68 out of 100, neutral, unchanged from the previous report	67 out of 100, neutral, −1 from the previous report	64 out of 100, neutral, −3 from the previous report	62 out of 100, neutral, −2 from the previous report	62 out of 100, neutral, unchanged from the previous report	57 out of 100, neutral, −5 from the previous report	54 out of 100, neutral, −3 from the previous report	53 out of 100, neutral, −1 from the previous report	53 out of 100, neutral, unchanged from the previous report	30 out of 100, neutral, −23 from the previous report	30 out of 100, neutral, unchanged from the previous report	Net short
PJM PECO Zone Day-Ahead Peak (Monthly)	48 out of 100, neutral, unchanged from the previous report	47 out of 100, neutral, −1 from the previous report	46 out of 100, neutral, −1 from the previous report	48 out of 100, neutral, +2 from the previous report	47 out of 100, neutral, −1 from the previous report	47 out of 100, neutral, unchanged from the previous report	40 out of 100, neutral, −7 from the previous report	39 out of 100, neutral, −1 from the previous report	38 out of 100, neutral, −1 from the previous report	38 out of 100, neutral, unchanged from the previous report	28 out of 100, neutral, −10 from the previous report	27 out of 100, neutral, −1 from the previous report	Net short
PJM Pepco Zone Day-Ahead Off-Peak (Monthly)	27 out of 100, neutral, unchanged from the previous report	22 out of 100, neutral, −5 from the previous report	23 out of 100, neutral, +1 from the previous report	27 out of 100, neutral, +4 from the previous report	15 out of 100, low, −12 from the previous report	17 out of 100, low, +2 from the previous report	21 out of 100, low, +4 from the previous report	24 out of 100, low, +3 from the previous report	25 out of 100, low, +1 from the previous report	25 out of 100, neutral, unchanged from the previous report	32 out of 100, neutral, +7 from the previous report	17 out of 100, low, −15 from the previous report	Net short
PJM Pepco Zone Day-Ahead Peak (Monthly)	27 out of 100, neutral, unchanged from the previous report	22 out of 100, neutral, −5 from the previous report	23 out of 100, neutral, +1 from the previous report	27 out of 100, neutral, +4 from the previous report	15 out of 100, low, −12 from the previous report	17 out of 100, low, +2 from the previous report	21 out of 100, low, +4 from the previous report	24 out of 100, low, +3 from the previous report	25 out of 100, low, +1 from the previous report	25 out of 100, neutral, unchanged from the previous report	32 out of 100, neutral, +7 from the previous report	17 out of 100, low, −15 from the previous report	Net short
PJM PPL Zone Day-Ahead Off-Peak (Monthly)	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	97 out of 100, extremely high, −1 from the previous report	96 out of 100, extremely high, −1 from the previous report	96 out of 100, extremely high, unchanged from the previous report	95 out of 100, extremely high, −1 from the previous report	95 out of 100, extremely high, unchanged from the previous report	94 out of 100, extremely high, −1 from the previous report	96 out of 100, extremely high, +2 from the previous report	93 out of 100, extremely high, −3 from the previous report	94 out of 100, extremely high, +1 from the previous report	Net long
PJM PPL Zone Day-Ahead Peak (Monthly)	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	97 out of 100, extremely high, −1 from the previous report	96 out of 100, extremely high, −1 from the previous report	96 out of 100, extremely high, unchanged from the previous report	95 out of 100, extremely high, −1 from the previous report	95 out of 100, extremely high, unchanged from the previous report	94 out of 100, extremely high, −1 from the previous report	93 out of 100, extremely high, −1 from the previous report	91 out of 100, extremely high, −2 from the previous report	87 out of 100, extremely high, −4 from the previous report	Net long
PJM PSEG Zone Day-Ahead Off-Peak (Monthly)	75 out of 100, neutral, unchanged from the previous report	74 out of 100, neutral, −1 from the previous report	73 out of 100, neutral, −1 from the previous report	72 out of 100, neutral, −1 from the previous report	72 out of 100, neutral, unchanged from the previous report	73 out of 100, neutral, +1 from the previous report	73 out of 100, neutral, unchanged from the previous report	68 out of 100, neutral, −5 from the previous report	67 out of 100, neutral, −1 from the previous report	68 out of 100, neutral, +1 from the previous report	34 out of 100, neutral, −34 from the previous report	33 out of 100, neutral, −1 from the previous report	Net long
PJM PSEG Zone Day-Ahead Peak (Monthly)	70 out of 100, neutral, +1 from the previous report	69 out of 100, neutral, −1 from the previous report	65 out of 100, neutral, −4 from the previous report	64 out of 100, neutral, −1 from the previous report	62 out of 100, neutral, −2 from the previous report	64 out of 100, neutral, +2 from the previous report	45 out of 100, neutral, −19 from the previous report	47 out of 100, neutral, +2 from the previous report	45 out of 100, neutral, −2 from the previous report	45 out of 100, neutral, unchanged from the previous report	13 out of 100, low, −32 from the previous report	13 out of 100, low, unchanged from the previous report	Net long
PJM Western Hub	70 out of 100, neutral, −1 from the previous report	68 out of 100, neutral, −2 from the previous report	66 out of 100, neutral, −2 from the previous report	74 out of 100, neutral, +8 from the previous report	76 out of 100, neutral, +2 from the previous report	77 out of 100, neutral, +1 from the previous report	76 out of 100, neutral, −1 from the previous report	77 out of 100, neutral, +1 from the previous report	75 out of 100, neutral, −2 from the previous report	71 out of 100, neutral, −4 from the previous report	63 out of 100, neutral, −8 from the previous report	54 out of 100, neutral, −9 from the previous report	Net short, switched side in this report
PJM Western Hub Day-Ahead Off-Peak	85 out of 100, high, +2 from the previous report	82 out of 100, high, −3 from the previous report	79 out of 100, high, −3 from the previous report	71 out of 100, neutral, −8 from the previous report	85 out of 100, high, +14 from the previous report	88 out of 100, high, +3 from the previous report	89 out of 100, high, +1 from the previous report	90 out of 100, extremely high, +1 from the previous report	89 out of 100, extremely high, −1 from the previous report	89 out of 100, extremely high, unchanged from the previous report	67 out of 100, neutral, −22 from the previous report	61 out of 100, neutral, −6 from the previous report	Net long
PJM Western Hub Day-Ahead Off-Peak (Monthly)	61 out of 100, neutral, unchanged from the previous report	61 out of 100, neutral, unchanged from the previous report	60 out of 100, neutral, −1 from the previous report	66 out of 100, neutral, +6 from the previous report	66 out of 100, neutral, unchanged from the previous report	73 out of 100, neutral, +7 from the previous report	73 out of 100, neutral, unchanged from the previous report	90 out of 100, extremely high, +17 from the previous report	95 out of 100, extremely high, +5 from the previous report	97 out of 100, extremely high, +2 from the previous report	70 out of 100, neutral, −27 from the previous report	77 out of 100, neutral, +7 from the previous report	Net long
PJM Western Hub Day-Ahead Peak (Monthly)	94 out of 100, extremely high, −1 from the previous report	94 out of 100, extremely high, unchanged from the previous report	94 out of 100, extremely high, unchanged from the previous report	96 out of 100, extremely high, +2 from the previous report	96 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, +1 from the previous report	97 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, +1 from the previous report	99 out of 100, extremely high, +1 from the previous report	99 out of 100, extremely high, unchanged from the previous report	73 out of 100, neutral, −26 from the previous report	76 out of 100, neutral, +3 from the previous report	Net long
PJM Western Hub Real-Time Off-Peak	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, unchanged from the previous report	92 out of 100, extremely high, −6 from the previous report	90 out of 100, extremely high, −2 from the previous report	84 out of 100, high, −6 from the previous report	86 out of 100, high, +2 from the previous report	83 out of 100, high, −3 from the previous report	82 out of 100, high, −1 from the previous report	80 out of 100, high, −2 from the previous report	82 out of 100, high, +2 from the previous report	Net long
PJM Western Hub Real-Time Off-Peak (Monthly)	94 out of 100, extremely high, +1 from the previous report	92 out of 100, extremely high, −2 from the previous report	92 out of 100, extremely high, unchanged from the previous report	93 out of 100, extremely high, +1 from the previous report	89 out of 100, extremely high, −4 from the previous report	80 out of 100, high, −9 from the previous report	70 out of 100, neutral, −10 from the previous report	36 out of 100, neutral, −34 from the previous report	37 out of 100, neutral, +1 from the previous report	32 out of 100, neutral, −5 from the previous report	98 out of 100, extremely high, +66 from the previous report	97 out of 100, extremely high, −1 from the previous report	Net long
PJM Western Hub Real-Time Peak (Monthly)	74 out of 100, neutral, −5 from the previous report	84 out of 100, high, +10 from the previous report	71 out of 100, neutral, −13 from the previous report	70 out of 100, neutral, −1 from the previous report	61 out of 100, neutral, −9 from the previous report	50 out of 100, neutral, −11 from the previous report	60 out of 100, neutral, +10 from the previous report	30 out of 100, neutral, −30 from the previous report	34 out of 100, neutral, +4 from the previous report	30 out of 100, neutral, −4 from the previous report	99 out of 100, extremely high, +69 from the previous report	99 out of 100, extremely high, unchanged from the previous report	Net long
PJM Western Hub Real-Time Peak Mini	63 out of 100, neutral, unchanged from the previous report	64 out of 100, neutral, +1 from the previous report	65 out of 100, neutral, +1 from the previous report	66 out of 100, neutral, +1 from the previous report	60 out of 100, neutral, −6 from the previous report	54 out of 100, neutral, −6 from the previous report	57 out of 100, neutral, +3 from the previous report	56 out of 100, neutral, −1 from the previous report	56 out of 100, neutral, unchanged from the previous report	50 out of 100, neutral, −6 from the previous report	41 out of 100, neutral, −9 from the previous report	41 out of 100, neutral, unchanged from the previous report	Net long
Energy
AECO Basis	89 out of 100, extremely high, −3 from the previous report	89 out of 100, extremely high, unchanged from the previous report	80 out of 100, high, −9 from the previous report	76 out of 100, high, −4 from the previous report	76 out of 100, high, unchanged from the previous report	73 out of 100, neutral, −3 from the previous report	73 out of 100, neutral, unchanged from the previous report	77 out of 100, neutral, +4 from the previous report	68 out of 100, neutral, −9 from the previous report	70 out of 100, neutral, +2 from the previous report	75 out of 100, neutral, +5 from the previous report	79 out of 100, neutral, +4 from the previous report	Net long
Algonquin Citygates Basis	80 out of 100, high, +5 from the previous report	68 out of 100, neutral, −12 from the previous report	69 out of 100, neutral, +1 from the previous report	98 out of 100, extremely high, +29 from the previous report	98 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, +1 from the previous report	95 out of 100, extremely high, −3 from the previous report	93 out of 100, extremely high, −2 from the previous report	96 out of 100, extremely high, +3 from the previous report	94 out of 100, extremely high, −2 from the previous report	96 out of 100, extremely high, +2 from the previous report	Net short
Brent Crude Oil	33 out of 100, neutral, −3 from the previous report	31 out of 100, neutral, −2 from the previous report	25 out of 100, neutral, −6 from the previous report	27 out of 100, neutral, +2 from the previous report	36 out of 100, neutral, +9 from the previous report	23 out of 100, neutral, −13 from the previous report	21 out of 100, neutral, −2 from the previous report	20 out of 100, neutral, −1 from the previous report	17 out of 100, low, −3 from the previous report	17 out of 100, low, unchanged from the previous report	15 out of 100, low, −2 from the previous report	27 out of 100, neutral, +12 from the previous report	Net long
Butane Mont Belvieu Non-TET FP (OPIS)	98 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, +2 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, +2 from the previous report	99 out of 100, extremely high, −1 from the previous report	97 out of 100, extremely high, −2 from the previous report	94 out of 100, extremely high, −3 from the previous report	92 out of 100, extremely high, −2 from the previous report	Net long
CG Mainline Basis	47 out of 100, neutral, −7 from the previous report	47 out of 100, neutral, unchanged from the previous report	48 out of 100, neutral, +1 from the previous report	54 out of 100, neutral, +6 from the previous report	56 out of 100, neutral, +2 from the previous report	39 out of 100, neutral, −17 from the previous report	45 out of 100, neutral, +6 from the previous report	69 out of 100, neutral, +24 from the previous report	63 out of 100, neutral, −6 from the previous report	55 out of 100, neutral, −8 from the previous report	56 out of 100, neutral, +1 from the previous report	47 out of 100, neutral, −9 from the previous report	Net short
Chicago Basis	63 out of 100, neutral, +8 from the previous report	74 out of 100, neutral, +11 from the previous report	78 out of 100, neutral, +4 from the previous report	77 out of 100, neutral, −1 from the previous report	85 out of 100, high, +8 from the previous report	73 out of 100, neutral, −12 from the previous report	66 out of 100, neutral, −7 from the previous report	85 out of 100, high, +19 from the previous report	79 out of 100, high, −6 from the previous report	75 out of 100, high, −4 from the previous report	69 out of 100, neutral, −6 from the previous report	51 out of 100, neutral, −18 from the previous report	Net short, switched side in this report
Chicago Citygate Index	70 out of 100, neutral, +2 from the previous report	75 out of 100, neutral, +5 from the previous report	78 out of 100, neutral, +3 from the previous report	75 out of 100, neutral, −3 from the previous report	77 out of 100, neutral, +2 from the previous report	57 out of 100, neutral, −20 from the previous report	50 out of 100, neutral, −7 from the previous report	36 out of 100, neutral, −14 from the previous report	38 out of 100, neutral, +2 from the previous report	43 out of 100, neutral, +5 from the previous report	50 out of 100, neutral, +7 from the previous report	55 out of 100, neutral, +5 from the previous report	Net short
CIG Rockies Basis	70 out of 100, neutral, unchanged from the previous report	70 out of 100, neutral, unchanged from the previous report	70 out of 100, neutral, unchanged from the previous report	66 out of 100, neutral, −4 from the previous report	60 out of 100, neutral, −6 from the previous report	60 out of 100, neutral, unchanged from the previous report	56 out of 100, neutral, −4 from the previous report	54 out of 100, neutral, −2 from the previous report	58 out of 100, neutral, +4 from the previous report	57 out of 100, neutral, −1 from the previous report	54 out of 100, neutral, −3 from the previous report	63 out of 100, neutral, +9 from the previous report	Net short
Crude Differential TMX WCS (1A Index)	1 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, +2 from the previous report	2 out of 100, extremely low, unchanged from the previous report	5 out of 100, extremely low, +3 from the previous report	4 out of 100, extremely low, −1 from the previous report	6 out of 100, extremely low, +2 from the previous report	8 out of 100, extremely low, +2 from the previous report	10 out of 100, extremely low, +2 from the previous report	8 out of 100, extremely low, −2 from the previous report	Net short
Crude Differential WCS Houston vs WTI (1st Line)	97 out of 100, extremely high, unchanged from the previous report	95 out of 100, extremely high, −2 from the previous report	86 out of 100, extremely high, −9 from the previous report	78 out of 100, high, −8 from the previous report	71 out of 100, neutral, −7 from the previous report	86 out of 100, high, +15 from the previous report	93 out of 100, extremely high, +7 from the previous report	92 out of 100, extremely high, −1 from the previous report	91 out of 100, extremely high, −1 from the previous report	95 out of 100, extremely high, +4 from the previous report	86 out of 100, extremely high, −9 from the previous report	83 out of 100, high, −3 from the previous report	Net long
Dominion South Point	52 out of 100, neutral, −16 from the previous report	25 out of 100, neutral, −27 from the previous report	38 out of 100, neutral, +13 from the previous report	39 out of 100, neutral, +1 from the previous report	63 out of 100, neutral, +24 from the previous report	61 out of 100, neutral, −2 from the previous report	64 out of 100, neutral, +3 from the previous report	98 out of 100, extremely high, +34 from the previous report	98 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −1 from the previous report	99 out of 100, extremely high, +2 from the previous report	99 out of 100, extremely high, unchanged from the previous report	Net long
Dominion South Point Basis	43 out of 100, neutral, unchanged from the previous report	43 out of 100, neutral, unchanged from the previous report	45 out of 100, neutral, +2 from the previous report	47 out of 100, neutral, +2 from the previous report	48 out of 100, neutral, +1 from the previous report	48 out of 100, neutral, unchanged from the previous report	47 out of 100, neutral, −1 from the previous report	52 out of 100, neutral, +5 from the previous report	48 out of 100, neutral, −4 from the previous report	47 out of 100, neutral, −1 from the previous report	47 out of 100, neutral, unchanged from the previous report	50 out of 100, neutral, +3 from the previous report	Net short
EP San Juan Basis	11 out of 100, low, −4 from the previous report	11 out of 100, low, unchanged from the previous report	11 out of 100, low, unchanged from the previous report	12 out of 100, low, +1 from the previous report	14 out of 100, low, +2 from the previous report	16 out of 100, low, +2 from the previous report	16 out of 100, low, unchanged from the previous report	14 out of 100, low, −2 from the previous report	14 out of 100, low, unchanged from the previous report	13 out of 100, low, −1 from the previous report	11 out of 100, low, −2 from the previous report	11 out of 100, low, unchanged from the previous report	Net long
Ethane Mont Belvieu (OPIS)	25 out of 100, neutral, −4 from the previous report	26 out of 100, neutral, +1 from the previous report	25 out of 100, neutral, −1 from the previous report	25 out of 100, neutral, unchanged from the previous report	27 out of 100, neutral, +2 from the previous report	31 out of 100, neutral, +4 from the previous report	34 out of 100, neutral, +3 from the previous report	35 out of 100, neutral, +1 from the previous report	38 out of 100, neutral, +3 from the previous report	39 out of 100, neutral, +1 from the previous report	39 out of 100, neutral, unchanged from the previous report	39 out of 100, neutral, unchanged from the previous report	Net long
Ethane Mont Belvieu Enterprise	60 out of 100, neutral, −4 from the previous report	55 out of 100, neutral, −5 from the previous report	48 out of 100, neutral, −7 from the previous report	51 out of 100, neutral, +3 from the previous report	49 out of 100, neutral, −2 from the previous report	44 out of 100, neutral, −5 from the previous report	36 out of 100, neutral, −8 from the previous report	27 out of 100, neutral, −9 from the previous report	27 out of 100, neutral, unchanged from the previous report	28 out of 100, neutral, +1 from the previous report	27 out of 100, neutral, −1 from the previous report	27 out of 100, neutral, unchanged from the previous report	Net long
Ethanol	56 out of 100, neutral, +4 from the previous report	64 out of 100, neutral, +8 from the previous report	75 out of 100, neutral, +11 from the previous report	89 out of 100, high, +14 from the previous report	86 out of 100, high, −3 from the previous report	79 out of 100, high, −7 from the previous report	82 out of 100, high, +3 from the previous report	96 out of 100, extremely high, +14 from the previous report	95 out of 100, extremely high, −1 from the previous report	95 out of 100, extremely high, unchanged from the previous report	85 out of 100, high, −10 from the previous report	68 out of 100, neutral, −17 from the previous report	Net long
Heating Oil (ULSD)	66 out of 100, neutral, +7 from the previous report	68 out of 100, neutral, +2 from the previous report	80 out of 100, high, +12 from the previous report	66 out of 100, neutral, −14 from the previous report	55 out of 100, neutral, −11 from the previous report	47 out of 100, neutral, −8 from the previous report	64 out of 100, neutral, +17 from the previous report	57 out of 100, neutral, −7 from the previous report	55 out of 100, neutral, −2 from the previous report	61 out of 100, neutral, +6 from the previous report	46 out of 100, neutral, −15 from the previous report	43 out of 100, neutral, −3 from the previous report	Net long
Henry Hub Basis	72 out of 100, neutral, −8 from the previous report	71 out of 100, neutral, −1 from the previous report	51 out of 100, neutral, −20 from the previous report	84 out of 100, high, +33 from the previous report	82 out of 100, high, −2 from the previous report	84 out of 100, high, +2 from the previous report	86 out of 100, high, +2 from the previous report	91 out of 100, extremely high, +5 from the previous report	91 out of 100, extremely high, unchanged from the previous report	82 out of 100, high, −9 from the previous report	54 out of 100, neutral, −28 from the previous report	38 out of 100, neutral, −16 from the previous report	Net short, switched side in this report
Henry Hub Index	66 out of 100, neutral, −6 from the previous report	66 out of 100, neutral, unchanged from the previous report	56 out of 100, neutral, −10 from the previous report	48 out of 100, neutral, −8 from the previous report	43 out of 100, neutral, −5 from the previous report	61 out of 100, neutral, +18 from the previous report	87 out of 100, high, +26 from the previous report	95 out of 100, extremely high, +8 from the previous report	95 out of 100, extremely high, unchanged from the previous report	92 out of 100, extremely high, −3 from the previous report	75 out of 100, neutral, −17 from the previous report	62 out of 100, neutral, −13 from the previous report	Net short, switched side in this report
Henry Hub Last Day (Financial)	67 out of 100, neutral, +5 from the previous report	66 out of 100, neutral, −1 from the previous report	69 out of 100, neutral, +3 from the previous report	55 out of 100, neutral, −14 from the previous report	52 out of 100, neutral, −3 from the previous report	66 out of 100, neutral, +14 from the previous report	53 out of 100, neutral, −13 from the previous report	45 out of 100, neutral, −8 from the previous report	41 out of 100, neutral, −4 from the previous report	3 out of 100, extremely low, −38 from the previous report	0 out of 100, extremely low, −3 from the previous report	4 out of 100, extremely low, +4 from the previous report	Net short
Henry Hub Natural Gas	58 out of 100, neutral, unchanged from the previous report	59 out of 100, neutral, +1 from the previous report	60 out of 100, neutral, +1 from the previous report	60 out of 100, neutral, unchanged from the previous report	62 out of 100, neutral, +2 from the previous report	64 out of 100, neutral, +2 from the previous report	67 out of 100, neutral, +3 from the previous report	68 out of 100, neutral, +1 from the previous report	69 out of 100, neutral, +1 from the previous report	69 out of 100, neutral, unchanged from the previous report	70 out of 100, neutral, +1 from the previous report	71 out of 100, neutral, +1 from the previous report	Net short
Henry Hub Natural Gas Penultimate	61 out of 100, neutral, +4 from the previous report	63 out of 100, neutral, +2 from the previous report	69 out of 100, neutral, +6 from the previous report	70 out of 100, neutral, +1 from the previous report	67 out of 100, neutral, −3 from the previous report	66 out of 100, neutral, −1 from the previous report	23 out of 100, neutral, −43 from the previous report	27 out of 100, neutral, +4 from the previous report	22 out of 100, neutral, −5 from the previous report	20 out of 100, low, −2 from the previous report	18 out of 100, low, −2 from the previous report	23 out of 100, low, +5 from the previous report	Net short
Henry Hub Penultimate (Financial)	84 out of 100, high, −5 from the previous report	76 out of 100, high, −8 from the previous report	86 out of 100, high, +10 from the previous report	85 out of 100, high, −1 from the previous report	79 out of 100, high, −6 from the previous report	26 out of 100, neutral, −53 from the previous report	68 out of 100, neutral, +42 from the previous report	77 out of 100, neutral, +9 from the previous report	68 out of 100, neutral, −9 from the previous report	85 out of 100, high, +17 from the previous report	76 out of 100, high, −9 from the previous report	57 out of 100, neutral, −19 from the previous report	Net short
Houston Ship Channel Basis	50 out of 100, neutral, −2 from the previous report	45 out of 100, neutral, −5 from the previous report	48 out of 100, neutral, +3 from the previous report	59 out of 100, neutral, +11 from the previous report	53 out of 100, neutral, −6 from the previous report	41 out of 100, neutral, −12 from the previous report	43 out of 100, neutral, +2 from the previous report	55 out of 100, neutral, +12 from the previous report	42 out of 100, neutral, −13 from the previous report	66 out of 100, neutral, +24 from the previous report	79 out of 100, neutral, +13 from the previous report	82 out of 100, high, +3 from the previous report	Net short
Houston Ship Channel Index	10 out of 100, extremely low, unchanged from the previous report	14 out of 100, extremely low, +4 from the previous report	12 out of 100, extremely low, −2 from the previous report	8 out of 100, extremely low, −4 from the previous report	8 out of 100, extremely low, unchanged from the previous report	9 out of 100, extremely low, +1 from the previous report	11 out of 100, extremely low, +2 from the previous report	13 out of 100, extremely low, +2 from the previous report	22 out of 100, low, +9 from the previous report	30 out of 100, neutral, +8 from the previous report	32 out of 100, neutral, +2 from the previous report	35 out of 100, neutral, +3 from the previous report	Net short
MichCon Basis	41 out of 100, neutral, −9 from the previous report	36 out of 100, neutral, −5 from the previous report	42 out of 100, neutral, +6 from the previous report	50 out of 100, neutral, +8 from the previous report	48 out of 100, neutral, −2 from the previous report	45 out of 100, neutral, −3 from the previous report	47 out of 100, neutral, +2 from the previous report	55 out of 100, neutral, +8 from the previous report	54 out of 100, neutral, −1 from the previous report	50 out of 100, neutral, −4 from the previous report	51 out of 100, neutral, +1 from the previous report	55 out of 100, neutral, +4 from the previous report	Net short
MichCon Index	36 out of 100, neutral, −33 from the previous report	23 out of 100, neutral, −13 from the previous report	21 out of 100, neutral, −2 from the previous report	15 out of 100, low, −6 from the previous report	15 out of 100, low, unchanged from the previous report	18 out of 100, low, +3 from the previous report	19 out of 100, low, +1 from the previous report	40 out of 100, neutral, +21 from the previous report	17 out of 100, low, −23 from the previous report	31 out of 100, neutral, +14 from the previous report	23 out of 100, neutral, −8 from the previous report	25 out of 100, neutral, +2 from the previous report	Net short
Natural Gas	23 out of 100, low, +7 from the previous report	43 out of 100, neutral, +20 from the previous report	33 out of 100, neutral, −10 from the previous report	30 out of 100, neutral, −3 from the previous report	28 out of 100, neutral, −2 from the previous report	53 out of 100, neutral, +25 from the previous report	10 out of 100, extremely low, −43 from the previous report	7 out of 100, extremely low, −3 from the previous report	13 out of 100, extremely low, +6 from the previous report	1 out of 100, extremely low, −12 from the previous report	0 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, unchanged from the previous report	Net short
Natural Gas Last Day (ICE LD1)	6 out of 100, extremely low, −1 from the previous report	5 out of 100, extremely low, −1 from the previous report	8 out of 100, extremely low, +3 from the previous report	10 out of 100, extremely low, +2 from the previous report	13 out of 100, extremely low, +3 from the previous report	7 out of 100, extremely low, −6 from the previous report	16 out of 100, low, +9 from the previous report	6 out of 100, extremely low, −10 from the previous report	5 out of 100, extremely low, −1 from the previous report	6 out of 100, extremely low, +1 from the previous report	3 out of 100, extremely low, −3 from the previous report	3 out of 100, extremely low, unchanged from the previous report	Net long
Natural Gas LD1 for GDD (TexOk)	32 out of 100, neutral, −6 from the previous report	35 out of 100, neutral, +3 from the previous report	32 out of 100, neutral, −3 from the previous report	11 out of 100, low, −21 from the previous report	3 out of 100, extremely low, −8 from the previous report	4 out of 100, extremely low, +1 from the previous report	0 out of 100, extremely low, −4 from the previous report	0 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, unchanged from the previous report	1 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, unchanged from the previous report	Net short
Natural Gas Penultimate (ICE)	77 out of 100, high, −3 from the previous report	70 out of 100, neutral, −7 from the previous report	73 out of 100, neutral, +3 from the previous report	75 out of 100, neutral, +2 from the previous report	76 out of 100, neutral, +1 from the previous report	75 out of 100, neutral, −1 from the previous report	76 out of 100, neutral, +1 from the previous report	72 out of 100, neutral, −4 from the previous report	63 out of 100, neutral, −9 from the previous report	37 out of 100, neutral, −26 from the previous report	77 out of 100, neutral, +40 from the previous report	83 out of 100, high, +6 from the previous report	Net short
NGPL TexOk Basis	55 out of 100, neutral, −13 from the previous report	43 out of 100, neutral, −12 from the previous report	39 out of 100, neutral, −4 from the previous report	36 out of 100, neutral, −3 from the previous report	35 out of 100, neutral, −1 from the previous report	27 out of 100, neutral, −8 from the previous report	22 out of 100, neutral, −5 from the previous report	24 out of 100, neutral, +2 from the previous report	28 out of 100, neutral, +4 from the previous report	41 out of 100, neutral, +13 from the previous report	38 out of 100, neutral, −3 from the previous report	43 out of 100, neutral, +5 from the previous report	Net short
Normal Butane Mont Belvieu (OPIS)	33 out of 100, neutral, −3 from the previous report	38 out of 100, neutral, +5 from the previous report	37 out of 100, neutral, −1 from the previous report	43 out of 100, neutral, +6 from the previous report	47 out of 100, neutral, +4 from the previous report	40 out of 100, neutral, −7 from the previous report	38 out of 100, neutral, −2 from the previous report	50 out of 100, neutral, +12 from the previous report	51 out of 100, neutral, +1 from the previous report	60 out of 100, neutral, +9 from the previous report	69 out of 100, neutral, +9 from the previous report	72 out of 100, neutral, +3 from the previous report	Net long
NWP Rockies Basis	98 out of 100, extremely high, +4 from the previous report	98 out of 100, extremely high, unchanged from the previous report	93 out of 100, extremely high, −5 from the previous report	94 out of 100, extremely high, +1 from the previous report	92 out of 100, extremely high, −2 from the previous report	89 out of 100, extremely high, −3 from the previous report	95 out of 100, extremely high, +6 from the previous report	98 out of 100, extremely high, +3 from the previous report	98 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, unchanged from the previous report	Net long
Panhandle Basis	69 out of 100, neutral, −5 from the previous report	64 out of 100, neutral, −5 from the previous report	58 out of 100, neutral, −6 from the previous report	50 out of 100, neutral, −8 from the previous report	51 out of 100, neutral, +1 from the previous report	48 out of 100, neutral, −3 from the previous report	53 out of 100, neutral, +5 from the previous report	22 out of 100, neutral, −31 from the previous report	30 out of 100, neutral, +8 from the previous report	46 out of 100, neutral, +16 from the previous report	65 out of 100, neutral, +19 from the previous report	67 out of 100, neutral, +2 from the previous report	Net long
PG&E Citygate Basis	4 out of 100, extremely low, +4 from the previous report	11 out of 100, extremely low, +7 from the previous report	10 out of 100, extremely low, −1 from the previous report	7 out of 100, extremely low, −3 from the previous report	7 out of 100, extremely low, unchanged from the previous report	4 out of 100, extremely low, −3 from the previous report	2 out of 100, extremely low, −2 from the previous report	10 out of 100, extremely low, +8 from the previous report	7 out of 100, extremely low, −3 from the previous report	8 out of 100, extremely low, +1 from the previous report	6 out of 100, extremely low, −2 from the previous report	17 out of 100, low, +11 from the previous report	Net short
Propane	50 out of 100, neutral, +4 from the previous report	52 out of 100, neutral, +2 from the previous report	48 out of 100, neutral, −4 from the previous report	52 out of 100, neutral, +4 from the previous report	61 out of 100, neutral, +9 from the previous report	71 out of 100, neutral, +10 from the previous report	73 out of 100, neutral, +2 from the previous report	75 out of 100, neutral, +2 from the previous report	73 out of 100, neutral, −2 from the previous report	73 out of 100, neutral, unchanged from the previous report	75 out of 100, neutral, +2 from the previous report	75 out of 100, neutral, unchanged from the previous report	Net long
Propane Mont Belvieu TET (OPIS)	1 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, +1 from the previous report	2 out of 100, extremely low, unchanged from the previous report	6 out of 100, extremely low, +4 from the previous report	12 out of 100, extremely low, +6 from the previous report	19 out of 100, low, +7 from the previous report	25 out of 100, neutral, +6 from the previous report	38 out of 100, neutral, +13 from the previous report	43 out of 100, neutral, +5 from the previous report	47 out of 100, neutral, +4 from the previous report	39 out of 100, neutral, −8 from the previous report	32 out of 100, neutral, −7 from the previous report	Net short
RBOB Gasoline	93 out of 100, extremely high, +1 from the previous report	97 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, +3 from the previous report	100 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −3 from the previous report	100 out of 100, extremely high, +3 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	97 out of 100, extremely high, −1 from the previous report	97 out of 100, extremely high, unchanged from the previous report	Net long
REX Zone 3 Basis	44 out of 100, neutral, +12 from the previous report	40 out of 100, neutral, −4 from the previous report	29 out of 100, neutral, −11 from the previous report	48 out of 100, neutral, +19 from the previous report	57 out of 100, neutral, +9 from the previous report	73 out of 100, neutral, +16 from the previous report	72 out of 100, neutral, −1 from the previous report	67 out of 100, neutral, −5 from the previous report	68 out of 100, neutral, +1 from the previous report	72 out of 100, neutral, +4 from the previous report	78 out of 100, neutral, +6 from the previous report	76 out of 100, neutral, −2 from the previous report	Net long
SoCal Border Basis	47 out of 100, neutral, −7 from the previous report	34 out of 100, neutral, −13 from the previous report	33 out of 100, neutral, −1 from the previous report	29 out of 100, neutral, −4 from the previous report	28 out of 100, neutral, −1 from the previous report	27 out of 100, neutral, −1 from the previous report	25 out of 100, neutral, −2 from the previous report	31 out of 100, neutral, +6 from the previous report	30 out of 100, neutral, −1 from the previous report	29 out of 100, neutral, −1 from the previous report	22 out of 100, neutral, −7 from the previous report	23 out of 100, neutral, +1 from the previous report	Net long
TETCO M2 Basis (Receipts)	99 out of 100, extremely high, −1 from the previous report	95 out of 100, extremely high, −4 from the previous report	96 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, +4 from the previous report	99 out of 100, extremely high, −1 from the previous report	99 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, unchanged from the previous report	Net long
TETCO M3 Basis	18 out of 100, low, −17 from the previous report	11 out of 100, low, −7 from the previous report	11 out of 100, low, unchanged from the previous report	4 out of 100, extremely low, −7 from the previous report	20 out of 100, low, +16 from the previous report	10 out of 100, extremely low, −10 from the previous report	13 out of 100, extremely low, +3 from the previous report	10 out of 100, extremely low, −3 from the previous report	9 out of 100, extremely low, −1 from the previous report	2 out of 100, extremely low, −7 from the previous report	4 out of 100, extremely low, +2 from the previous report	6 out of 100, extremely low, +2 from the previous report	Net short
TETCO M3 Index	43 out of 100, neutral, −1 from the previous report	31 out of 100, neutral, −12 from the previous report	30 out of 100, neutral, −1 from the previous report	25 out of 100, neutral, −5 from the previous report	43 out of 100, neutral, +18 from the previous report	25 out of 100, neutral, −18 from the previous report	19 out of 100, low, −6 from the previous report	17 out of 100, low, −2 from the previous report	17 out of 100, low, unchanged from the previous report	14 out of 100, low, −3 from the previous report	11 out of 100, low, −3 from the previous report	12 out of 100, low, +1 from the previous report	Net short
Transco Station 85 (Zone 4) Basis	87 out of 100, high, +26 from the previous report	89 out of 100, high, +2 from the previous report	76 out of 100, high, −13 from the previous report	57 out of 100, neutral, −19 from the previous report	56 out of 100, neutral, −1 from the previous report	56 out of 100, neutral, unchanged from the previous report	63 out of 100, neutral, +7 from the previous report	42 out of 100, neutral, −21 from the previous report	41 out of 100, neutral, −1 from the previous report	20 out of 100, neutral, −21 from the previous report	36 out of 100, neutral, +16 from the previous report	32 out of 100, neutral, −4 from the previous report	Net long
Transco Zone 5 South Basis	86 out of 100, extremely high, −1 from the previous report	86 out of 100, extremely high, unchanged from the previous report	84 out of 100, high, −2 from the previous report	58 out of 100, neutral, −26 from the previous report	55 out of 100, neutral, −3 from the previous report	69 out of 100, neutral, +14 from the previous report	67 out of 100, neutral, −2 from the previous report	35 out of 100, neutral, −32 from the previous report	34 out of 100, neutral, −1 from the previous report	30 out of 100, neutral, −4 from the previous report	28 out of 100, neutral, −2 from the previous report	24 out of 100, neutral, −4 from the previous report	Net long
Transco Zone 6 Basis	22 out of 100, neutral, −3 from the previous report	21 out of 100, neutral, −1 from the previous report	23 out of 100, neutral, +2 from the previous report	29 out of 100, neutral, +6 from the previous report	30 out of 100, neutral, +1 from the previous report	27 out of 100, neutral, −3 from the previous report	29 out of 100, neutral, +2 from the previous report	35 out of 100, neutral, +6 from the previous report	39 out of 100, neutral, +4 from the previous report	38 out of 100, neutral, −1 from the previous report	48 out of 100, neutral, +10 from the previous report	47 out of 100, neutral, −1 from the previous report	Net short
Transco Zone 6 Index (Monthly)	13 out of 100, extremely low, unchanged from the previous report	5 out of 100, extremely low, −8 from the previous report	5 out of 100, extremely low, unchanged from the previous report	14 out of 100, extremely low, +9 from the previous report	15 out of 100, extremely low, +1 from the previous report	14 out of 100, extremely low, −1 from the previous report	10 out of 100, extremely low, −4 from the previous report	2 out of 100, extremely low, −8 from the previous report	3 out of 100, extremely low, +1 from the previous report	6 out of 100, extremely low, +3 from the previous report	20 out of 100, low, +14 from the previous report	21 out of 100, low, +1 from the previous report	Net long, switched side in this report
Waha Basis	99 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	96 out of 100, extremely high, −2 from the previous report	93 out of 100, extremely high, −3 from the previous report	89 out of 100, extremely high, −4 from the previous report	52 out of 100, neutral, −37 from the previous report	41 out of 100, neutral, −11 from the previous report	43 out of 100, neutral, +2 from the previous report	42 out of 100, neutral, −1 from the previous report	52 out of 100, neutral, +10 from the previous report	Net short
WTI Crude Oil	36 out of 100, neutral, +6 from the previous report	32 out of 100, neutral, −4 from the previous report	42 out of 100, neutral, +10 from the previous report	52 out of 100, neutral, +10 from the previous report	48 out of 100, neutral, −4 from the previous report	51 out of 100, neutral, +3 from the previous report	30 out of 100, neutral, −21 from the previous report	17 out of 100, low, −13 from the previous report	14 out of 100, low, −3 from the previous report	14 out of 100, low, unchanged from the previous report	13 out of 100, low, −1 from the previous report	10 out of 100, extremely low, −3 from the previous report	Net long
WTI Crude Oil (ICE)	98 out of 100, extremely high, −1 from the previous report	97 out of 100, extremely high, −1 from the previous report	97 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, +1 from the previous report	97 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +3 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, −1 from the previous report	98 out of 100, extremely high, unchanged from the previous report	95 out of 100, extremely high, −3 from the previous report	91 out of 100, extremely high, −4 from the previous report	Net short
WTI Houston (Argus) vs WTI Trade Month	4 out of 100, extremely low, unchanged from the previous report	5 out of 100, extremely low, +1 from the previous report	3 out of 100, extremely low, −2 from the previous report	3 out of 100, extremely low, unchanged from the previous report	7 out of 100, extremely low, +4 from the previous report	10 out of 100, extremely low, +3 from the previous report	11 out of 100, extremely low, +1 from the previous report	4 out of 100, extremely low, −7 from the previous report	6 out of 100, extremely low, +2 from the previous report	7 out of 100, extremely low, +1 from the previous report	9 out of 100, extremely low, +2 from the previous report	14 out of 100, extremely low, +5 from the previous report	Net short
Interest Rates & Bonds
1-Month SOFR	27 out of 100, neutral, +7 from the previous report	30 out of 100, neutral, +3 from the previous report	24 out of 100, neutral, −6 from the previous report	15 out of 100, low, −9 from the previous report	7 out of 100, extremely low, −8 from the previous report	16 out of 100, low, +9 from the previous report	18 out of 100, low, +2 from the previous report	52 out of 100, neutral, +34 from the previous report	44 out of 100, neutral, −8 from the previous report	50 out of 100, neutral, +6 from the previous report	65 out of 100, neutral, +15 from the previous report	55 out of 100, neutral, −10 from the previous report	Net short
10-Year Eris SOFR Swap	61 out of 100, neutral, +1 from the previous report	59 out of 100, neutral, −2 from the previous report	56 out of 100, neutral, −3 from the previous report	59 out of 100, neutral, +3 from the previous report	63 out of 100, neutral, +4 from the previous report	68 out of 100, neutral, +5 from the previous report	81 out of 100, high, +13 from the previous report	82 out of 100, high, +1 from the previous report	83 out of 100, high, +1 from the previous report	77 out of 100, high, −6 from the previous report	75 out of 100, high, −2 from the previous report	75 out of 100, neutral, unchanged from the previous report	Net short
10-Year T-Note	29 out of 100, neutral, −1 from the previous report	58 out of 100, neutral, +29 from the previous report	34 out of 100, neutral, −24 from the previous report	48 out of 100, neutral, +14 from the previous report	59 out of 100, neutral, +11 from the previous report	55 out of 100, neutral, −4 from the previous report	55 out of 100, neutral, unchanged from the previous report	47 out of 100, neutral, −8 from the previous report	41 out of 100, neutral, −6 from the previous report	56 out of 100, neutral, +15 from the previous report	42 out of 100, neutral, −14 from the previous report	39 out of 100, neutral, −3 from the previous report	Net short
2-Year T-Note	100 out of 100, extremely high, +1 from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −1 from the previous report	100 out of 100, extremely high, +3 from the previous report	98 out of 100, extremely high, −2 from the previous report	95 out of 100, extremely high, −3 from the previous report	97 out of 100, extremely high, +2 from the previous report	94 out of 100, extremely high, −3 from the previous report	91 out of 100, extremely high, −3 from the previous report	Net short
3-Month SOFR	5 out of 100, extremely low, +1 from the previous report	4 out of 100, extremely low, −1 from the previous report	4 out of 100, extremely low, unchanged from the previous report	3 out of 100, extremely low, −1 from the previous report	4 out of 100, extremely low, +1 from the previous report	5 out of 100, extremely low, +1 from the previous report	7 out of 100, extremely low, +2 from the previous report	10 out of 100, extremely low, +3 from the previous report	11 out of 100, extremely low, +1 from the previous report	11 out of 100, extremely low, unchanged from the previous report	7 out of 100, extremely low, −4 from the previous report	7 out of 100, extremely low, unchanged from the previous report	Net short
5-Year Eris SOFR Swap	100 out of 100, extremely high, +5 from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, unchanged from the previous report	97 out of 100, extremely high, −1 from the previous report	Net long
5-Year T-Note	86 out of 100, high, +3 from the previous report	97 out of 100, extremely high, +11 from the previous report	75 out of 100, neutral, −22 from the previous report	87 out of 100, high, +12 from the previous report	95 out of 100, extremely high, +8 from the previous report	100 out of 100, extremely high, +5 from the previous report	98 out of 100, extremely high, −2 from the previous report	95 out of 100, extremely high, −3 from the previous report	97 out of 100, extremely high, +2 from the previous report	95 out of 100, extremely high, −2 from the previous report	94 out of 100, extremely high, −1 from the previous report	78 out of 100, high, −16 from the previous report	Net short
Euro Short-Term Rate	10 out of 100, extremely low, −2 from the previous report	10 out of 100, extremely low, unchanged from the previous report	10 out of 100, extremely low, unchanged from the previous report	10 out of 100, extremely low, unchanged from the previous report	9 out of 100, extremely low, −1 from the previous report	0 out of 100, extremely low, −9 from the previous report	1 out of 100, extremely low, +1 from the previous report	1 out of 100, extremely low, unchanged from the previous report	1 out of 100, extremely low, unchanged from the previous report	3 out of 100, extremely low, +2 from the previous report	3 out of 100, extremely low, unchanged from the previous report	4 out of 100, extremely low, +1 from the previous report	Net short
Fed Funds	64 out of 100, neutral, −7 from the previous report	60 out of 100, neutral, −4 from the previous report	61 out of 100, neutral, +1 from the previous report	72 out of 100, neutral, +11 from the previous report	86 out of 100, high, +14 from the previous report	82 out of 100, high, −4 from the previous report	79 out of 100, high, −3 from the previous report	85 out of 100, high, +6 from the previous report	84 out of 100, high, −1 from the previous report	98 out of 100, extremely high, +14 from the previous report	100 out of 100, extremely high, +2 from the previous report	96 out of 100, extremely high, −4 from the previous report	Net long
Treasury Bond	85 out of 100, high, +3 from the previous report	97 out of 100, extremely high, +12 from the previous report	89 out of 100, extremely high, −8 from the previous report	94 out of 100, extremely high, +5 from the previous report	98 out of 100, extremely high, +4 from the previous report	100 out of 100, extremely high, +2 from the previous report	95 out of 100, extremely high, −5 from the previous report	98 out of 100, extremely high, +3 from the previous report	100 out of 100, extremely high, +2 from the previous report	98 out of 100, extremely high, −2 from the previous report	100 out of 100, extremely high, +2 from the previous report	98 out of 100, extremely high, −2 from the previous report	Net short
Ultra 10-Year T-Note	39 out of 100, neutral, +9 from the previous report	51 out of 100, neutral, +12 from the previous report	13 out of 100, low, −38 from the previous report	16 out of 100, low, +3 from the previous report	26 out of 100, neutral, +10 from the previous report	27 out of 100, neutral, +1 from the previous report	50 out of 100, neutral, +23 from the previous report	54 out of 100, neutral, +4 from the previous report	50 out of 100, neutral, −4 from the previous report	57 out of 100, neutral, +7 from the previous report	71 out of 100, neutral, +14 from the previous report	70 out of 100, neutral, −1 from the previous report	Net short
Ultra Treasury Bond	54 out of 100, neutral, +4 from the previous report	90 out of 100, extremely high, +36 from the previous report	46 out of 100, neutral, −44 from the previous report	47 out of 100, neutral, +1 from the previous report	57 out of 100, neutral, +10 from the previous report	57 out of 100, neutral, unchanged from the previous report	59 out of 100, neutral, +2 from the previous report	75 out of 100, neutral, +16 from the previous report	79 out of 100, neutral, +4 from the previous report	51 out of 100, neutral, −28 from the previous report	50 out of 100, neutral, −1 from the previous report	55 out of 100, neutral, +5 from the previous report	Net short
Metals
Aluminum MW Premium	81 out of 100, high, +4 from the previous report	81 out of 100, high, unchanged from the previous report	79 out of 100, high, −2 from the previous report	77 out of 100, high, −2 from the previous report	79 out of 100, high, +2 from the previous report	82 out of 100, high, +3 from the previous report	85 out of 100, high, +3 from the previous report	82 out of 100, high, −3 from the previous report	55 out of 100, neutral, −27 from the previous report	57 out of 100, neutral, +2 from the previous report	66 out of 100, neutral, +9 from the previous report	54 out of 100, neutral, −12 from the previous report	Net short
Cobalt	42 out of 100, neutral, +6 from the previous report	43 out of 100, neutral, +1 from the previous report	31 out of 100, neutral, −12 from the previous report	36 out of 100, neutral, +5 from the previous report	36 out of 100, neutral, unchanged from the previous report	51 out of 100, neutral, +15 from the previous report	51 out of 100, neutral, unchanged from the previous report	48 out of 100, neutral, −3 from the previous report	54 out of 100, neutral, +6 from the previous report	52 out of 100, neutral, −2 from the previous report	45 out of 100, neutral, −7 from the previous report	55 out of 100, neutral, +10 from the previous report	Net short
Copper	97 out of 100, extremely high, +2 from the previous report	94 out of 100, extremely high, −3 from the previous report	89 out of 100, extremely high, −5 from the previous report	96 out of 100, extremely high, +7 from the previous report	76 out of 100, high, −20 from the previous report	95 out of 100, extremely high, +19 from the previous report	88 out of 100, extremely high, −7 from the previous report	67 out of 100, neutral, −21 from the previous report	63 out of 100, neutral, −4 from the previous report	48 out of 100, neutral, −15 from the previous report	41 out of 100, neutral, −7 from the previous report	37 out of 100, neutral, −4 from the previous report	Net long
Gold	81 out of 100, high, +1 from the previous report	76 out of 100, high, −5 from the previous report	73 out of 100, neutral, −3 from the previous report	72 out of 100, neutral, −1 from the previous report	67 out of 100, neutral, −5 from the previous report	61 out of 100, neutral, −6 from the previous report	52 out of 100, neutral, −9 from the previous report	44 out of 100, neutral, −8 from the previous report	39 out of 100, neutral, −5 from the previous report	32 out of 100, neutral, −7 from the previous report	37 out of 100, neutral, +5 from the previous report	32 out of 100, neutral, −5 from the previous report	Net long
Lithium Hydroxide	43 out of 100, neutral, +5 from the previous report	61 out of 100, neutral, +18 from the previous report	68 out of 100, neutral, +7 from the previous report	60 out of 100, neutral, −8 from the previous report	38 out of 100, neutral, −22 from the previous report	36 out of 100, neutral, −2 from the previous report	37 out of 100, neutral, +1 from the previous report	23 out of 100, neutral, −14 from the previous report	23 out of 100, neutral, unchanged from the previous report	35 out of 100, neutral, +12 from the previous report	34 out of 100, neutral, −1 from the previous report	32 out of 100, neutral, −2 from the previous report	Net long
Palladium	64 out of 100, neutral, −4 from the previous report	63 out of 100, neutral, −1 from the previous report	66 out of 100, neutral, +3 from the previous report	68 out of 100, neutral, +2 from the previous report	57 out of 100, neutral, −11 from the previous report	52 out of 100, neutral, −5 from the previous report	45 out of 100, neutral, −7 from the previous report	38 out of 100, neutral, −7 from the previous report	34 out of 100, neutral, −4 from the previous report	29 out of 100, neutral, −5 from the previous report	28 out of 100, neutral, −1 from the previous report	27 out of 100, neutral, −1 from the previous report	Net short
Platinum	50 out of 100, neutral, −9 from the previous report	70 out of 100, neutral, +20 from the previous report	54 out of 100, neutral, −16 from the previous report	63 out of 100, neutral, +9 from the previous report	58 out of 100, neutral, −5 from the previous report	66 out of 100, neutral, +8 from the previous report	52 out of 100, neutral, −14 from the previous report	51 out of 100, neutral, −1 from the previous report	42 out of 100, neutral, −9 from the previous report	39 out of 100, neutral, −3 from the previous report	23 out of 100, neutral, −16 from the previous report	16 out of 100, low, −7 from the previous report	Net short, switched side in this report
Silver	23 out of 100, neutral, unchanged from the previous report	38 out of 100, neutral, +15 from the previous report	36 out of 100, neutral, −2 from the previous report	43 out of 100, neutral, +7 from the previous report	39 out of 100, neutral, −4 from the previous report	36 out of 100, neutral, −3 from the previous report	14 out of 100, low, −22 from the previous report	14 out of 100, low, unchanged from the previous report	9 out of 100, extremely low, −5 from the previous report	4 out of 100, extremely low, −5 from the previous report	4 out of 100, extremely low, unchanged from the previous report	7 out of 100, extremely low, +3 from the previous report	Net long
Steel HRC	72 out of 100, neutral, −1 from the previous report	67 out of 100, neutral, −5 from the previous report	68 out of 100, neutral, +1 from the previous report	75 out of 100, neutral, +7 from the previous report	72 out of 100, neutral, −3 from the previous report	64 out of 100, neutral, −8 from the previous report	66 out of 100, neutral, +2 from the previous report	68 out of 100, neutral, +2 from the previous report	63 out of 100, neutral, −5 from the previous report	76 out of 100, neutral, +13 from the previous report	66 out of 100, neutral, −10 from the previous report	66 out of 100, neutral, unchanged from the previous report	Net long
Other Markets
Bloomberg Commodity	78 out of 100, neutral, +10 from the previous report	79 out of 100, neutral, +1 from the previous report	100 out of 100, extremely high, +21 from the previous report	100 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, −2 from the previous report	95 out of 100, extremely high, −3 from the previous report	94 out of 100, extremely high, −1 from the previous report	97 out of 100, extremely high, +3 from the previous report	95 out of 100, extremely high, −2 from the previous report	96 out of 100, extremely high, +1 from the previous report	94 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, +4 from the previous report	Net long
Stock Indices & Equities
Dow Jones (DJIA) Consolidated	73 out of 100, neutral, +19 from the previous report	51 out of 100, neutral, −22 from the previous report	50 out of 100, neutral, −1 from the previous report	43 out of 100, neutral, −7 from the previous report	52 out of 100, neutral, +9 from the previous report	39 out of 100, neutral, −13 from the previous report	36 out of 100, neutral, −3 from the previous report	50 out of 100, neutral, +14 from the previous report	73 out of 100, neutral, +23 from the previous report	54 out of 100, neutral, −19 from the previous report	64 out of 100, neutral, +10 from the previous report	68 out of 100, neutral, +4 from the previous report	Net long
Dow Jones US Real Estate	89 out of 100, extremely high, −2 from the previous report	71 out of 100, neutral, −18 from the previous report	73 out of 100, neutral, +2 from the previous report	44 out of 100, neutral, −29 from the previous report	22 out of 100, neutral, −22 from the previous report	2 out of 100, extremely low, −20 from the previous report	3 out of 100, extremely low, +1 from the previous report	4 out of 100, extremely low, +1 from the previous report	70 out of 100, neutral, +66 from the previous report	38 out of 100, neutral, −32 from the previous report	73 out of 100, neutral, +35 from the previous report	91 out of 100, extremely high, +18 from the previous report	Net long
E-mini Dow Jones	65 out of 100, neutral, +11 from the previous report	51 out of 100, neutral, −14 from the previous report	50 out of 100, neutral, −1 from the previous report	40 out of 100, neutral, −10 from the previous report	47 out of 100, neutral, +7 from the previous report	39 out of 100, neutral, −8 from the previous report	35 out of 100, neutral, −4 from the previous report	41 out of 100, neutral, +6 from the previous report	69 out of 100, neutral, +28 from the previous report	48 out of 100, neutral, −21 from the previous report	57 out of 100, neutral, +9 from the previous report	59 out of 100, neutral, +2 from the previous report	Net long
E-mini Nasdaq 100	7 out of 100, extremely low, +7 from the previous report	50 out of 100, neutral, +43 from the previous report	84 out of 100, high, +34 from the previous report	61 out of 100, neutral, −23 from the previous report	89 out of 100, high, +28 from the previous report	61 out of 100, neutral, −28 from the previous report	67 out of 100, neutral, +6 from the previous report	73 out of 100, neutral, +6 from the previous report	84 out of 100, high, +11 from the previous report	93 out of 100, extremely high, +9 from the previous report	95 out of 100, extremely high, +2 from the previous report	98 out of 100, extremely high, +3 from the previous report	Net long
E-mini Russell 2000	2 out of 100, extremely low, −1 from the previous report	2 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, unchanged from the previous report	18 out of 100, low, +16 from the previous report	2 out of 100, extremely low, −16 from the previous report	2 out of 100, extremely low, unchanged from the previous report	4 out of 100, extremely low, +2 from the previous report	15 out of 100, low, +11 from the previous report	54 out of 100, neutral, +39 from the previous report	59 out of 100, neutral, +5 from the previous report	50 out of 100, neutral, −9 from the previous report	Net short
E-mini S&P 500	72 out of 100, neutral, −7 from the previous report	56 out of 100, neutral, −16 from the previous report	56 out of 100, neutral, unchanged from the previous report	45 out of 100, neutral, −11 from the previous report	88 out of 100, high, +43 from the previous report	20 out of 100, neutral, −68 from the previous report	22 out of 100, neutral, +2 from the previous report	11 out of 100, low, −11 from the previous report	14 out of 100, low, +3 from the previous report	27 out of 100, neutral, +13 from the previous report	20 out of 100, low, −7 from the previous report	32 out of 100, neutral, +12 from the previous report	Net short
E-mini S&P Consumer Staples Sector	13 out of 100, low, +1 from the previous report	10 out of 100, extremely low, −3 from the previous report	14 out of 100, extremely low, +4 from the previous report	17 out of 100, low, +3 from the previous report	20 out of 100, low, +3 from the previous report	58 out of 100, neutral, +38 from the previous report	47 out of 100, neutral, −11 from the previous report	29 out of 100, neutral, −18 from the previous report	15 out of 100, low, −14 from the previous report	41 out of 100, neutral, +26 from the previous report	61 out of 100, neutral, +20 from the previous report	63 out of 100, neutral, +2 from the previous report	Net long
E-mini S&P Energy Sector	21 out of 100, neutral, −10 from the previous report	21 out of 100, neutral, unchanged from the previous report	15 out of 100, low, −6 from the previous report	13 out of 100, low, −2 from the previous report	31 out of 100, neutral, +18 from the previous report	58 out of 100, neutral, +27 from the previous report	39 out of 100, neutral, −19 from the previous report	31 out of 100, neutral, −8 from the previous report	29 out of 100, neutral, −2 from the previous report	45 out of 100, neutral, +16 from the previous report	64 out of 100, neutral, +19 from the previous report	70 out of 100, neutral, +6 from the previous report	Net long, switched side in this report
E-mini S&P Financials Sector	38 out of 100, neutral, unchanged from the previous report	31 out of 100, neutral, −7 from the previous report	31 out of 100, neutral, unchanged from the previous report	37 out of 100, neutral, +6 from the previous report	49 out of 100, neutral, +12 from the previous report	38 out of 100, neutral, −11 from the previous report	39 out of 100, neutral, +1 from the previous report	46 out of 100, neutral, +7 from the previous report	45 out of 100, neutral, −1 from the previous report	42 out of 100, neutral, −3 from the previous report	54 out of 100, neutral, +12 from the previous report	62 out of 100, neutral, +8 from the previous report	Net short
E-mini S&P Utilities Sector	55 out of 100, neutral, +3 from the previous report	60 out of 100, neutral, +5 from the previous report	65 out of 100, neutral, +5 from the previous report	73 out of 100, neutral, +8 from the previous report	51 out of 100, neutral, −22 from the previous report	82 out of 100, high, +31 from the previous report	77 out of 100, high, −5 from the previous report	34 out of 100, neutral, −43 from the previous report	17 out of 100, low, −17 from the previous report	24 out of 100, low, +7 from the previous report	30 out of 100, neutral, +6 from the previous report	45 out of 100, neutral, +15 from the previous report	Net long
Micro E-mini Nasdaq 100	37 out of 100, neutral, +5 from the previous report	50 out of 100, neutral, +13 from the previous report	45 out of 100, neutral, −5 from the previous report	39 out of 100, neutral, −6 from the previous report	34 out of 100, neutral, −5 from the previous report	29 out of 100, neutral, −5 from the previous report	11 out of 100, low, −18 from the previous report	23 out of 100, low, +12 from the previous report	12 out of 100, low, −11 from the previous report	15 out of 100, low, +3 from the previous report	19 out of 100, low, +4 from the previous report	44 out of 100, neutral, +25 from the previous report	Net short
Micro E-mini S&P 500	7 out of 100, extremely low, −6 from the previous report	0 out of 100, extremely low, −7 from the previous report	0 out of 100, extremely low, unchanged from the previous report	0 out of 100, extremely low, unchanged from the previous report	2 out of 100, extremely low, +2 from the previous report	55 out of 100, neutral, +53 from the previous report	36 out of 100, neutral, −19 from the previous report	48 out of 100, neutral, +12 from the previous report	34 out of 100, neutral, −14 from the previous report	41 out of 100, neutral, +7 from the previous report	59 out of 100, neutral, +18 from the previous report	77 out of 100, neutral, +18 from the previous report	Net long
MSCI EAFE	92 out of 100, extremely high, −3 from the previous report	97 out of 100, extremely high, +5 from the previous report	98 out of 100, extremely high, +1 from the previous report	96 out of 100, extremely high, −2 from the previous report	94 out of 100, extremely high, −2 from the previous report	98 out of 100, extremely high, +4 from the previous report	84 out of 100, high, −14 from the previous report	65 out of 100, neutral, −19 from the previous report	58 out of 100, neutral, −7 from the previous report	38 out of 100, neutral, −20 from the previous report	65 out of 100, neutral, +27 from the previous report	20 out of 100, low, −45 from the previous report	Net short, switched side in this report
MSCI Emerging Markets	71 out of 100, neutral, +10 from the previous report	64 out of 100, neutral, −7 from the previous report	75 out of 100, neutral, +11 from the previous report	77 out of 100, neutral, +2 from the previous report	65 out of 100, neutral, −12 from the previous report	79 out of 100, neutral, +14 from the previous report	64 out of 100, neutral, −15 from the previous report	79 out of 100, neutral, +15 from the previous report	62 out of 100, neutral, −17 from the previous report	58 out of 100, neutral, −4 from the previous report	43 out of 100, neutral, −15 from the previous report	48 out of 100, neutral, +5 from the previous report	Net long
Nasdaq 100 Consolidated	12 out of 100, extremely low, +12 from the previous report	51 out of 100, neutral, +39 from the previous report	81 out of 100, high, +30 from the previous report	60 out of 100, neutral, −21 from the previous report	88 out of 100, high, +28 from the previous report	59 out of 100, neutral, −29 from the previous report	59 out of 100, neutral, unchanged from the previous report	68 out of 100, neutral, +9 from the previous report	73 out of 100, neutral, +5 from the previous report	91 out of 100, extremely high, +18 from the previous report	91 out of 100, extremely high, unchanged from the previous report	98 out of 100, extremely high, +7 from the previous report	Net long, switched side in this report
Nikkei 225	12 out of 100, low, −16 from the previous report	27 out of 100, neutral, +15 from the previous report	24 out of 100, neutral, −3 from the previous report	25 out of 100, neutral, +1 from the previous report	38 out of 100, neutral, +13 from the previous report	31 out of 100, neutral, −7 from the previous report	13 out of 100, low, −18 from the previous report	6 out of 100, extremely low, −7 from the previous report	12 out of 100, extremely low, +6 from the previous report	27 out of 100, neutral, +15 from the previous report	33 out of 100, neutral, +6 from the previous report	55 out of 100, neutral, +22 from the previous report	Net long
S&P 500 Annual Dividend Index	70 out of 100, neutral, −7 from the previous report	72 out of 100, neutral, +2 from the previous report	69 out of 100, neutral, −3 from the previous report	74 out of 100, neutral, +5 from the previous report	74 out of 100, neutral, unchanged from the previous report	75 out of 100, neutral, +1 from the previous report	75 out of 100, neutral, unchanged from the previous report	80 out of 100, neutral, +5 from the previous report	80 out of 100, high, unchanged from the previous report	100 out of 100, extremely high, +20 from the previous report	100 out of 100, extremely high, unchanged from the previous report	99 out of 100, extremely high, −1 from the previous report	Net long
S&P 500 Consolidated	67 out of 100, neutral, −8 from the previous report	48 out of 100, neutral, −19 from the previous report	46 out of 100, neutral, −2 from the previous report	39 out of 100, neutral, −7 from the previous report	81 out of 100, high, +42 from the previous report	20 out of 100, neutral, −61 from the previous report	22 out of 100, neutral, +2 from the previous report	10 out of 100, extremely low, −12 from the previous report	12 out of 100, extremely low, +2 from the previous report	27 out of 100, neutral, +15 from the previous report	20 out of 100, low, −7 from the previous report	34 out of 100, neutral, +14 from the previous report	Net short
S&P 500 Total Return (AIR)	16 out of 100, low, +1 from the previous report	14 out of 100, low, −2 from the previous report	22 out of 100, low, +8 from the previous report	30 out of 100, neutral, +8 from the previous report	38 out of 100, neutral, +8 from the previous report	72 out of 100, neutral, +34 from the previous report	68 out of 100, neutral, −4 from the previous report	55 out of 100, neutral, −13 from the previous report	57 out of 100, neutral, +2 from the previous report	52 out of 100, neutral, −5 from the previous report	32 out of 100, neutral, −20 from the previous report	30 out of 100, neutral, −2 from the previous report	Net long
S&P MidCap 400	8 out of 100, extremely low, +3 from the previous report	12 out of 100, extremely low, +4 from the previous report	28 out of 100, neutral, +16 from the previous report	39 out of 100, neutral, +11 from the previous report	54 out of 100, neutral, +15 from the previous report	88 out of 100, high, +34 from the previous report	57 out of 100, neutral, −31 from the previous report	98 out of 100, extremely high, +41 from the previous report	100 out of 100, extremely high, +2 from the previous report	98 out of 100, extremely high, −2 from the previous report	88 out of 100, extremely high, −10 from the previous report	74 out of 100, neutral, −14 from the previous report	Net long
VIX	72 out of 100, neutral, −5 from the previous report	46 out of 100, neutral, −26 from the previous report	57 out of 100, neutral, +11 from the previous report	64 out of 100, neutral, +7 from the previous report	74 out of 100, neutral, +10 from the previous report	74 out of 100, neutral, unchanged from the previous report	84 out of 100, high, +10 from the previous report	95 out of 100, extremely high, +11 from the previous report	91 out of 100, extremely high, −4 from the previous report	68 out of 100, neutral, −23 from the previous report	48 out of 100, neutral, −20 from the previous report	39 out of 100, neutral, −9 from the previous report	Net short

The cells

Extremely high
High
Neutral
Low
Extremely low
No figure (tap or hover for the reason)

Green = toward the long end of the group’s own 3-year range, red = toward the short end, outline = mid-range. The arrow is the change from the previous report; a dashed cell has no figure that week. Newest column: the report of Nov 3, 2026. A description of positions, not a view on price.

The net-side column

Net longMore long than short contracts (bullish, for speculators).
Net shortMore short than long contracts (bearish, for speculators).
Net longNEWThey switched side in that report.

The side the chosen trader group holds in the report of Nov 3, 2026 (the speculators by default).

In short

COT Positioning Heatmap

The COT Positioning Heatmap shows where the speculators stand in every market we analyse, across the last 12 weekly CFTC reports. Each cell is the 3-year percentile rank of their net position as a share of open interest: green toward the top of that range, red toward the bottom. The grid is free. Open a row to see every trader group of that market in every report; their figures are part of COT Premium. With COT Premium the grid itself can also show the other trader groups, the 1- and 5-year ranks and the net positions, with a CSV download. It is updated after each CFTC release, usually on Friday.

Dataset

U.S. CFTC Commitments of Traders (Futures Only, Disaggregated, TFF, Supplemental)

Release schedule

After each CFTC release, normally Friday at 3:30 PM ET (Tuesday snapshot)

Methodology

Net position (Long − Short) as a share of open interest, percentile-ranked over its last 3 years (156 weeks) on the grid; the 1- and 5-year ranks (52 and 260 weeks) with COT Premium; a window needs 90% of its weeks

Color scale

Green → grey → red in five bands: extremely high from 90, high from 80, low up to 20, extremely low up to 10; a dashed cell = not enough history

About the COT Positioning Heatmap

The COT Positioning Heatmap puts the speculators’ positioning in every market we analyse into one grid: one row per market, one column for each of the last 12 weekly CFTC reports. Search for a market, filter by category or colour zone, and sort the rows. Each cell is the speculators’ 3-year percentile rank: where their net position, as a share of open interest, sits within their own last 3 years (Money managers or Leveraged funds, Futures Only). Open a row to see every trader group of that market in every report that covers it — Legacy: 3 groups, Disaggregated: 4 reportable, TFF: 4 reportable, Supplemental: 3 reportable — with the net position, its weekly change and the 1-, 3- and 5-year ranks, which are part of COT Premium. Extreme percentiles (80 or above, 20 or below) mean the net position is at the edge of its own 3-year range, and cross-market alignment (e.g. Managed Money net long across all metals) shows the same positioning across a whole sector. Each market’s name opens its full positioning analysis.

Data sourced directly from the U.S. Commodity Futures Trading Commission. Each grid cell ranks the speculators’ net position, as a share of open interest, against their own last 3 years (156 weeks); the 1- and 5-year ranks (52 and 260 weeks) are part of COT Premium. The CFTC history behind the ranks is continuous in every report format from 2006-06-13. Positioning extremes are not investment advice — use alongside price action and broader market context.

More COT Report Formats

COT Positioning AnalysisSee every market

Latest COT Report COT Report Simplified COT Report Detailed COT Report Weekly Summary COT Report Charts COT Report Comparison

Tools

COT Positioning HeatmapCOT Positioning Extremes Advanced COT Charts COT Volume Profile

FAQ

COT Heatmap — Frequently Asked Questions

Spotted an inaccuracy? Write to contact@cot-reports.com

Helpful links

COT positioning extremesThe markets at a 3-year extreme in the latest report GlossaryEvery COT term in plain English CFTC release scheduleEvery Friday, 3:30 PM ET

What is a COT heatmap?

A COT heatmap puts many futures markets side by side using CFTC Commitments of Traders data. Here each row is a market and each column one of the last 12 weekly reports; a cell’s colour follows the speculators’ 3-year percentile rank of their net position, as a share of open interest: green toward the top of that range, red toward the bottom, an outlined cell for mid-range, stronger shades for the extremes. Open a row to see every trader group of that market; their figures are part of COT Premium. It lets you scan the positioning of many markets at a glance instead of reading one report at a time.

How do I read the heatmap?

Read each row from left to right: the newest report is the right-most column. A cell at 95 means the speculators’ net position, as a share of open interest, is higher than in 95% of the weeks of their last 3 years; a cell at 5, lower than in 95% of them. The arrow is the change from the previous report, and a dashed cell has no figure that week (hover or tap it for the reason). The last column shows whether the speculators are net long or net short in the newest report. Open a row with its arrow to see every trader group in every report that covers the market: Legacy (Futures Only), Disaggregated or TFF and, where it exists, Supplemental; the net position, weekly change and 1-, 3- and 5-year ranks there are part of COT Premium. That detail opens on Futures Only and can switch to Futures & Options Combined; the Supplemental report exists only combined.

What does a green cell mean?

A green cell means the trader category's current net position, as a share of open interest, sits in the upper part of its historical range — more long, or less short, than in most weeks of that window (it can still be net short). Darker green = more extreme, i.e. closer to the top of that range. The colour compares positions with their own history; it is not a view on price.

When is the heatmap updated?

The heatmap adds each new Commitments of Traders report after the CFTC releases it — normally every Friday at 3:30 PM ET — as soon as that week's analysis is computed; until then the page shows that it is being computed. Positions reflect Tuesday's market close. When a US federal holiday falls on the Wednesday, Thursday or Friday of that week, the release moves to the next business day, usually the following Monday — a Monday holiday such as Labor Day does not delay it.

How is 'extreme positioning' measured?

Each week, a trader category's net position (Long − Short) is taken as a share of open interest and ranked against its own last 52 (1Y), 156 (3Y) and 260 (5Y) weeks: 0 is the lowest of those weeks and 100 the highest, with tied weeks counted half. A window counts only when at least 90% of its weeks were reported; otherwise the cell stays a dashed empty cell, never a made-up middle value. A rank of 80 or more is high and 90 or more extremely high; 20 or less is low and 10 or less extremely low. On the 3-year cell a band holds until the rank falls back below 75 (high) or 85 (extremely high), or rises above 25 and 15 on the low side, so a cell does not change color on a small weekly move. Taking the position as a share of open interest makes markets of different sizes comparable. The grid’s cells are the speculators’ 3-year rank; an opened row shows the 1-, 3- and 5-year ranks of every trader group.

Why use the heatmap instead of the Simplified report?

The Simplified report shows you one market's full history in depth — ideal for drilling into a single instrument. The heatmap shows the opposite: every market at once, across the last 12 weekly reports. Use the heatmap to spot cross-market patterns (e.g. Managed Money net long across all metals, or Commercials aggressively short across all energies) and to flag which markets deserve a deeper look in the Simplified, Detailed or Latest report pages.

PREMIUM

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REPORTS & HISTORY

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DATA & TOOLS

✓Close Price column & CSV export
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Disaggregated

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Financial Futures

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Index Traders

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