WAHA FIN BASIS

WAHA FIN BASIS · ICE FUTURES ENERGY DIV · CFTC code 023399 · week ending 2026-10-06

Trader category

Range

Managed Money is net short 2.7% of open interest

Managed Money holds a net position of −19,427 contracts, or 2.7% of the 717,831 contracts of open interest, leaving the category net short. That is within the normal range of the last three years (z = +0.03 and sits at 40 on a 0–100 scale of its three-year range). In contracts, the net position moved −12,751 while open interest moved −33,421 — long liquidation, with longs closing out rather than new sellers arriving. That is −1.82pp as a share of open interest.

Net position as a share of open interest

Managed Money · blue above the line is net long, red below is net short

Open interest

The denominator. Positioning shares mean little without knowing whether the market itself is growing or shrinking.

Z-score vs its own 3-year history

Shaded beyond ±2σ. Measures how unusual today's share is for this market.

COT Index (0–100)

Rank within the 3-year range. Shaded below 10 and above 90.

Weekly flow, adjusted for open interest

Change in the net share week over week, in percentage points of open interest.

Who is on the other side

Net share of open interest by trader group. The groups net to zero — every long is someone's short.

Producer / Merchant Swap Dealer Managed Money Other Reportable Non-Reportable

Recent weeks (table view)

Week	Open interest	Net	Net % OI	Δ pp	Z	COT Idx
2026-10-06	717,831	−19,427	-2.71%	-1.82	0.03	40
2026-09-29	751,252	−6,676	-0.89%	-1.50	1.05	61
2026-09-22	747,405	4,555	0.61%	-0.94	1.90	78
2026-09-15	738,082	11,451	1.55%	-0.46	2.47	88
2026-09-08	716,082	14,372	2.01%	-0.57	2.79	94
2026-09-01	749,673	19,356	2.58%	0.18	3.22	100
2026-08-25	739,127	17,786	2.41%	0.55	3.25	100
2026-08-18	721,409	13,398	1.86%	-0.03	3.04	100
2026-08-11	712,979	13,445	1.89%	0.29	3.17	100
2026-08-04	733,206	11,689	1.59%	0.80	3.09	100
2026-07-28	707,553	5,598	0.79%	0.15	2.64	95
2026-07-21	687,992	4,430	0.64%	-0.37	2.60	93