Based on the COT report data, the changes in commercial positions are as follows:
Long positions: Increased by 83 contracts Short positions: Decreased by 538 contracts To calculate the net positions, you subtract the short positions from the long positions. In this case, the net positions for commercials can be calculated as follows:
Net positions = Long positions - Short positions Net positions = 83 - (-538) Net positions = 621
Therefore, the net positions for commercials are 621 contracts. It indicates an increase in net long positions for commercials, not net short positions.
Based on the provided COT report data, the changes in non-commercial positions are as follows:
Long positions: Decreased by 1,084 contracts Short positions: Decreased by 378 contracts To calculate the net positions, you subtract the short positions from the long positions. In this case, the net positions for non-commercials can be calculated as follows:
Net positions = Long positions - Short positions Net positions = -1,084 - (-378) Net positions = -706
Therefore, the net positions for non-commercials are -706 contracts. It indicates a decrease in net long positions for non-commercials, but keep in mind that the value is negative, indicating a net short position for non-commercials in this case.
Let's analyze the data for Bitcoin Micro (Code-133742) based on the provided COT report:
Total open interest: 6,569 contracts Non-Commercial Positions:
Long positions: 3,803 contracts Short positions: 5,543 contracts Spreading positions: 214 contracts Commercial Positions:
Long positions: 145 contracts Short positions: 0 contracts Net Positions: To calculate the net positions, you subtract the short positions from the long positions. In this case, the net positions for non-commercials can be calculated as follows:
Net positions = Long positions - Short positions Net positions = 3,803 - 5,543 Net positions = -1,740
Therefore, the net positions for non-commercials in Bitcoin Micro are -1,740 contracts, indicating a net short position.
Changes from May 23, 2023:
Long positions: Decreased by 2,596 contracts Short positions: Decreased by 2,412 contracts Percent of Open Interest:
Non-commercial long positions: 57.9% of open interest Non-commercial short positions: 84.4% of open interest Commercial long positions: 3.3% of open interest Commercial short positions: 2.2% of open interest Number of Traders:
Non-commercial traders: 50 Commercial traders: 31 Percent of Open Interest Held by the Largest Traders:
Long positions: 14.8% held by 4 or less traders, 24.4% held by 8 or less traders Short positions: 60.3% held by 4 or less traders, 72.7% held by 8 or less traders Overall, the COT report suggests that non-commercial traders in Bitcoin Micro have a net short position, and there has been a decrease in both long and short positions compared to the previous reporting period.
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From the provided data, we can observe the following:
Total Open Interest: The total open interest for Bitcoin Micro futures on May 30th, 2023, was 6,569 contracts.
Non-Commercial Positions: The non-commercial traders (speculators) held 3,803 long positions and 5,543 short positions. They also had 214 spreading positions.
Commercial Positions: The commercial traders held 145 long positions and no short positions. They did not have any spreading positions.
Changes in Commitments: Compared to the previous report on May 23rd, 2023, there was a decrease in overall commitments of 3,473 contracts. Non-commercial traders reduced their long positions by 2,596 contracts and their short positions by 2,412 contracts.
Percent of Open Interest: Non-commercial traders represented 57.9% of the open interest with their long positions and 84.4% with their short positions. Commercial traders represented 2.2% of the open interest with their long positions and 0% with their short positions.
Number of Traders: There were 83 traders in total, with 50 in the non-commercial category, 31 in the commercial category, and 7 in the spreading category.
Percent of Open Interest Held by Largest Traders: The largest traders, representing 4 or less traders, held 14.8% of the open interest with their long positions and 60.3% with their short positions. When considering 8 or less traders, they held 24.4% of the open interest with their long positions and 72.7% with their short positions.
Based on this information, we can analyze the potential implications:
The decrease in non-commercial net long positions indicates a reduction in bullish sentiment among speculators for Bitcoin Micro futures.
The absence of short positions among commercial traders suggests a lack of hedging or selling pressure from institutional participants.
The higher percentage of open interest held by non-commercial traders compared to commercial traders indicates that speculative positions have a significant influence on the market.
Considering the price history, with the price of $27,600 on May 30th, 2023, it is important to note that the price alone does not provide a direct correlation to the positions. A comprehensive analysis would require more extensive data and a thorough examination of market dynamics, trends, and other factors that could impact the price movement on that specific day.
Slow Bleed always end up with a spooky candle