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COT Gold, Silver and US Dollar Index Report - October 23, 2015

 -- Published: Friday, 23 October 2015 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

233,227

81,926

57,126

134,966

298,266

425,319

437,318

Change from Prior Reporting Period

29,928

-4,214

4,084

-9,276

35,530

24,736

35,400

Traders

164

101

87

44

58

248

216

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

42,473

30,474

467,792

 

 

 

7,128

-3,536

31,864

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, October 20, 2015

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

233,132

70,332

182,373

223,692

398,644

639,197

651,349

Change from Prior Reporting Period

26,640

-9,627

14,540

-3,993

42,854

37,187

47,766

Traders

187

123

140

53

64

309

267

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

47,004

34,852

686,201

 

 

 

7,661

-2,918

44,848

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, October 20, 2015

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

79,449

22,151

23,381

42,189

108,989

4,874

-714

3,171

-2,833

5,341

Traders

94

45

41

33

42

Small Speculators

Open Interest

Total

Long

Short

167,574

Long

Short

22,555

13,053

145,019

154,521

1,016

-1,570

6,228

5,212

7,798

non reportable positions

Positions as of:

143

119

 

Tuesday, October 20, 2015

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

74,257

23,091

41,843

59,673

120,360

4,438

-668

3,217

-2,832

4,831

Traders

97

57

68

39

45

Small Speculators

Open Interest

Total

Long

Short

199,965

Long

Short

24,192

14,671

175,773

185,294

1,178

-1,380

6,001

4,823

7,381

non reportable positions

Positions as of:

169

144

 

Tuesday, October 20, 2015

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

47,578

19,375

1,730

23,374

58,124

72,682

79,229

-1,471

9,201

295

10,415

227

9,239

9,723

Traders

90

33

14

12

9

111

51

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

8,813

2,266

81,495

 

 

 

-478

-962

8,761

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, October 20, 2015

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

47,507

19,384

1,885

23,468

58,169

72,860

79,438

-1,471

9,215

294

10,420

226

9,243

9,734

Traders

91

33

14

12

9

111

52

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

8,875

2,298

81,735

 

 

 

-473

-963

8,771

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, October 20, 2015

  

The COT reports which we look at each week provide a breakdown of each Tuesday's open interest for markets in which 20 or more traders hold positions equal to or above the reporting levels established by the CFTC.   The weekly reports for Futures-and-Options-Combined Commitments of Traders are released every Friday at 3:30 p.m. Eastern time.   The short report shows open interest separately by reportable and Non-reportable positions.   For reportable positions, additional data is provided for commercial and non-commercial holdings, spreading, changes from the previous report.

 

Futures and Options Combined

What does this title mean?   A future is a standardized contract traded through regulated exchanges where an investor buys or sells a contract at a specified price for a specific date in the future.   The price includes the interest charge due to the seller by the buyer from the date of the contract to the due date.   An option is the ‘right to buy or sell’ a contract at a fixed date in the future at a specific [strike] price.   The difference is that a futures contract is an agreement to buy or sell, whereas an option gives the holder the right to buy or sell.   An option holder can decide not to take up that right and will only lose the cost of buying the option.   His loss is therefore definable at the start of his investment, while the potential profit has not limit to it.   A futures contract is usually leveraged [a loan provided] up to 90% of the contract.   However, with the owner liable to top up his ‘margin’ to maintain this 10% his potential losses can rise far higher than his investment.  A ‘long’ [buying] contract limits its loss to the full price of the item, whereas the ‘short’ [selling] contract has no limit except the height that the price of the item can rise to.

 

The Commitment of Traders report [COT] is therefore a report on the overall position of the Commodity Exchange [COMEX or NYMEX].

 

Large & Small Speculators

The word “speculator” implies that the person is simply making a bet on the way he thinks the price of the item is going to move.   In essence, he is a gambler.   A trader might be this, but then again he might be an Arbitrageur, buying in one market and selling in another to capture the price difference between the two.   He wants to deal as fast as possible so as to minimize his risk of a price movement while he is exposed.   We would not put him in the same category as a speculator.

 

Contract

One contract is 100 ounces of gold, or 5,000 ounces silver.   The numbers referred to above are therefore the number of contracts in that position.   The net long speculative position is found by adding the large and small speculators bought contracts and deducting the large and small speculators sold contracts.   We work on there being 32,150 ounces in a tonne.

 

Buy [Long]

A long position is where an investor, trader, speculator buys 100 ounces x the number of contracts.     

 

Sell [Short]

A short position is where an investor, trader, speculator sells 100 ounces x the number contracts.

 

Spreading

For the options-and-futures-combined report, spreading measures the extent to which each non-commercial trader holds equal combined-long and combined-short positions. For example, if a non-commercial trader in Gold futures holds 2,000 long contracts and 1,500 short contracts, 500 contracts will appear in the "Long" category and 1,500 contracts will appear in the "Spreading" category.

 

Open Interest

Open interest is the total of all futures and/or option contracts entered into and not yet offset by a transaction, by delivery, by exercise, etc. The aggregate of all long open interest is equal to the aggregate of all short open interest.

 

Reportable Positions

Clearing members, futures commission merchants, and foreign brokers (collectively called "reporting firms") file daily reports with the Commission. Those reports show the futures and option positions of traders that hold positions above specific reporting levels set by CFTC regulations.

 

Commercial and Non-commercial Traders

When an individual reportable trader is identified to the Commodities Futures Trading Commission, the trader is classified either as "commercial" or "non-commercial." All of a trader's reported futures positions in a commodity are classified as commercial if the trader uses futures contracts in that particular commodity for hedging as defined in the Commission's regulations (1.3(z)).

 

Non-reportable Positions

The long and short open interest shown as "Non-reportable Positions" are derived by subtracting total long and short "Reportable Positions" from the total open interest. Accordingly, for "Non-reportable Positions," the number of traders involved and the commercial/non-commercial classification of each trader are unknown.

 

Changes in Commitments from Previous Reports

Changes represent the differences between the data for the current report date and the data published in the previous report.

 

Number of Traders

To determine the total number of reportable traders in a market, a trader is counted only once regardless whether the trader appears in more than one category (non-commercial traders may be long or short only and may be spreading; commercial traders may be long and short). To determine the number of traders in each category, however, a trader is counted in each category in which the trader holds a position. Therefore, the sum of the numbers of traders in each category will often exceed the "Total" number of traders in that market.


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 -- Published: Friday, 23 October 2015 | E-Mail  | Print  | Source: GoldSeek.com

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