COT report, 15 September 2026: net long rises in Nasdaq-100 futures

What the COT report of 15 September 2026 shows

The CFTC Commitments of Traders (COT) report captures large speculators’ positions in US futures markets as of 15 September 2026. This week’s focus is the E-mini Nasdaq-100: the net long grew, a swing of 12,823 contracts in one report. Across the 5 contracts covered here, speculators increased their net exposure in 2 and reduced it in 3.

US equity index futures: net long rises in Nasdaq-100 futures

Positioning is split: net short in S&P 500 futures and Russell 2000 futures, net long in Nasdaq-100 futures.

The net short in the E-mini S&P 500 has grown for at least a third straight week, to 100,461 contracts as of 15 September 2026. The net short grew by 24,425 contracts from 8 September 2026, when it stood at 76,036 contracts.

Large speculators’ net long in the E-mini Nasdaq-100 rose to 33,718 contracts as of 15 September 2026. The net long grew by 12,823 contracts from 8 September 2026, when it stood at 20,895 contracts. Since 25 August 2026, three reports earlier, the net long has grown by 23,679 contracts.

Large speculators’ net short in the E-mini Russell 2000 eased to 72,350 contracts as of 15 September 2026. The net short shrank by 10,485 contracts from 8 September 2026, when it stood at 82,835 contracts. Since 25 August 2026, three reports earlier, the net short has grown by 20,772 contracts, despite this week’s move the other way.

Gold and oil: net long falls in gold

Both contracts in this group point the same way: large speculators are net long.

Large speculators’ net long in the COMEX gold contract fell to 230,338 contracts as of 15 September 2026. The net long shrank by 1,622 contracts from 8 September 2026, when it stood at 231,960 contracts. Since 25 August 2026, three reports earlier, the net long has shrunk by 12,996 contracts.

Large speculators’ net long in the NYMEX WTI crude oil contract fell to 135,905 contracts as of 15 September 2026. The net long shrank by 674 contracts from 8 September 2026, when it stood at 136,579 contracts. Since 25 August 2026, three reports earlier, the net long has grown by 12,456 contracts, despite this week’s move the other way.

How to read these positions

The COT report is best read over time: a run of weeks in the same direction carries more weight than a single change, which can come from contract rolls or a one-off adjustment.

Limits to keep in mind: the non-commercial category groups funds and large speculators, not retail traders; positions are taken on Tuesday and published on Friday; and positioning describes the market, it does not give an entry point.

About the data: the Commitments of Traders report is published every week by the US Commodity Futures Trading Commission. It splits the open positions of each futures market between commercial firms hedging a real business, large non-commercial traders and small positions; the figures used here are the net positions of the non-commercial group, that is, their long contracts minus their short contracts. Comparing one contract with itself from report to report is meaningful; comparing sizes across markets much less so, because the value of a contract varies widely from one market to another.