Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks. The week ending 08 Nov saw a moderate increase in net positioning across the major oil futures benchmarks. Total net positioning rose from -128k lots on 30 Oct before rising to -58k by 08 Nov, supporting the short-covering momentum that has exerted upward pressure on flat price. Heating Oil continues to see the most bullish positioning, in contrast to RBOB gasoline which holds the most bearish positioning. Overall positioning is relatively neutral so there is further capacity for more bullish or bearish positions to be deployed in line with momentum and new catalysts.
Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts.
