DailyTradingPlatform

CFTC Nasdaq-100 Speculative Net Positions

Published:

A weekly CFTC measure of speculative (non-commercial) net futures positioning in the CME E-mini Nasdaq-100 contract, in thousands of contracts.

Economic IndicatorsModerate volatilityCFTC Nasdaq 100 Speculative Net PositionsNasdaq-100 speculative net positionsNasdaq-100 non-commercial net positionsCOT Nasdaq-100 net positions

Full explanation

CFTC Nasdaq-100 Speculative Net Positions is the net position of non-commercial (speculative) traders in the CME E-mini Nasdaq-100 futures contract (reported by the CFTC as "NASDAQ MINI - CHICAGO MERCANTILE EXCHANGE", contract market code 209742). It is calculated as non-commercial long futures contracts minus non-commercial short futures contracts from the CFTC's Legacy Futures Only Commitments of Traders report, shown in thousands of contracts. It is a positioning measure, not an amount of money. Other Nasdaq-100 contracts, such as Micro E-mini or the consolidated series, are not included. Positions are measured as of Tuesday and normally published on Friday at 3:30 p.m. Eastern Time.

Why traders watch it

Traders use the series to assess positioning and sentiment in a major US technology-heavy equity-index futures market. Large or rapidly changing net positions can highlight one-sided exposure and the possibility that an unexpected market move could prompt position reductions.

Market interpretation

Nasdaq-100 futures and related US equity-index markets
The release can provide context on positioning and sentiment, particularly when net exposure changes sharply or reaches unusually stretched levels.
USD and broader risk-sensitive markets
Potential impact is usually indirect, through changes in perceived US equity-market risk appetite rather than a direct measure of the US economy.

Stronger vs weaker outcomes

A higher or more positive reading may indicate that reportable non-commercial traders are more net long, while a lower or more negative reading may indicate greater net-short positioning. Either outcome can reflect changing sentiment, hedging activity, or market structure and does not by itself establish a future price direction.

Stronger than expected

A higher reading means non-commercial positions are more net long, or less net short, than before. This may be consistent with stronger reported bullish positioning, but it can also signal more concentrated exposure.

Weaker than expected

A lower reading means non-commercial positions are less net long, or more net short, than before. This may be consistent with weaker reported positioning, but the reason can include new short positions, reduced longs, or both.

In line with expectations

Higher values indicate more net-long non-commercial Nasdaq-100 futures positioning; lower values indicate less net-long or more net-short positioning.

Release details

Release frequency
Weekly (Tuesday positions, published Friday 3:30 p.m. ET)

Typical volatility

Moderate. The report is a delayed weekly snapshot rather than real-time positioning. It covers reportable accounts and CFTC trader classifications, while changes in contract composition, open interest, and the treatment of spread positions can affect comparisons over time.

Trading considerations

  • Remember that the positions are measured on Tuesday, so the report may not capture developments later in the week.
  • Compare the net figure with gross long and short positions, open interest, and weekly changes where available.
  • Treat extremes as evidence of positioning concentration, not as automatic reversal or continuation signals.
  • Consider related US equity-index positioning and major risk events occurring between the Tuesday measurement date and Friday publication.

Educational guidance only — never a trading signal or recommendation.

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