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Net Positions
General Definition
COT Commercial Index demonstrates how the commercial traders’ current level of buying and selling compares to the historical level in the past 3 years. This value ranges from 0 to 100, leaning towards 100 meaning more bullish and 0 more bearish. Additionally trends in the net positions of the participants can be potential signals of a market reversal, or a change in the current market trend.
Net Commercial represents the net position contributed by commercial participants. Commercial participants refers to those who are trading to minimize any losses due to fluctuations in exchange rates, they primarily are motivated by hedging purposes.
Net Non-Commercial represents the net position contributed by non-commercial participants. Non-Commercial participants (also known as large speculators) are those who are entirely in it for the profit they do not need the commodity that is being bought and sold in the market but can potentially make a profit from fluctuations and trends.
Net Non-Reportable represents the net position contributed by non-reportable participants. Non-reportable participants (also known as small speculators) are those who do not meet the requirements to be included as a reportable company in the COT weekly reports, hence the name non-reportables, but they are similar to the non-commercial participants in that they are in it for the profit.
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