Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks. Bearish sentiment has slowly been picking up since total positioning hit flat on 21 Feb, falling to a three-month low of around -127k lots on 11 Mar. Overall net positioning increased over the past week, moving up to -74k lots on 24 Mar from -122k lots on 17 Mar. The majority of the selected futures contracts continue to be net bearish, except for RBOB, which continued to be in the positives at 12k lots on 24 Mar from around 5k lots a week ago. Brent futures and WTI are now at around the same level of estimated net positioning after Brent has seen better support this week.
Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts.
