COT index calculator
Turn a run of weekly net positions into the COT index (0-100): pick a market and our CFTC data fills the numbers in, or paste your own. See it for every market each week on the COT report this week.
How it works
- Net position = long contracts minus short contracts of one trader group (here: non-commercials, the large speculators) in one market.
- Take the last N weekly values (the window), find the highest and the lowest.
- COT index = (this week − lowest) ÷ (highest − lowest) × 100.
- Reading: 70 or more = near the top of the range (crowded long); 30 or less = near the bottom (crowded short); in between = no extreme. More in COT index explained.
Questions
What is the COT index?
A 0-100 reading of where a group's net position (longs minus shorts) sits within its own range over a lookback window: 100 = the highest net position of the window, 0 = the lowest.
What is the COT index formula?
COT index = (current net − lowest net) ÷ (highest net − lowest net) × 100, using the same trader group and market over the same window. If highest and lowest are equal the index is undefined.
Which lookback should I use?
13 weeks reacts quickly (our COT report this week page uses it), 26 or 52 weeks are common, 156 weeks (three years) shows long-term extremes.
Is a COT index of 100 a sell signal?
No. It shows that large speculators are as long as they have been in the window. Extremes can last for weeks; use it with price and the trend, not alone.