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Managed Money is net long 15.3% of open interest — elevated

Managed Money holds a net position of 364,950 contracts, or 15.3% of the 2,392,900 contracts of open interest, leaving the category net long. That is meaningfully above its three-year average, though short of an extreme (z = +1.78 and sits at 98 on a 0–100 scale of its three-year range). In contracts, the net position moved +24,020 while open interest moved −2,518 — short covering, with the move coming from shorts closing out rather than new buyers arriving. That is +1.02pp as a share of open interest.