Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks in a timelier fashion relative to the official COT data. Over the past two weeks, net positions bottomed on 16 April at -145k lots, which was the lowest level since September 2024. Now, net positions are steadily increasing, rising to -93k lots by 28 April. RBOB is still the strongest underlying, at -3k lots, while Brent is the weakest, at -27k lots. Brent is quickly converging with WTI futures which is sitting at -26k lots.
Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts.
