Silver COT Report: Who Holds the Futures

In the week to Tuesday 13 October 2026, managed money (hedge funds and commodity trading advisers — the speculators) held a net long position of 5,619 contracts in COMEX silver futures (28.1 million ounces), down 1,909 from the week before. That is lower than in 94% of weeks over the last three years. Updated every Friday from the CFTC's Commitments of Traders report.

Managed money, net

+5,619

contracts · 28.1 million ounces

Change on week

−1,909

9.5 million ounces

Share of open interest

5.2%

108,433 contracts open

vs last 3 years

6th

percentile (100 = most long)

vs all since 2006

18th

percentile

Positions as of

13 Oct 2026

released Fri 16 Oct

Net position by trader group vs the silver price

Net position = long minus short contracts (excluding spreads). One contract is 5,000 troy ounces. Price: silver close on each report Tuesday. Click a name to show or hide it.

Latest Positions by Group

Contracts held on 13 October 2026, and the change from the week before.

Group	Long	Short	Net	Change	Net in million ounces
Managed moneyhedge funds and commodity trading advisers — the speculators	15,802	10,183	+5,619	−1,909	+28.1
Producers & merchantsminers, refiners and fabricators hedging	4,898	20,699	−15,801	+452	−79.0
Swap dealersbanks hedging over-the-counter deals	24,107	47,748	−23,641	+1,698	−118.2
Other reportablesother large traders	18,592	1,580	+17,012	+1,387	+85.1
Small traderspositions below the reporting level	26,468	9,657	+16,811	−1,628	+84.1

Open interest: 108,433 contracts. Longs and shorts don't add up across groups because spread positions (long and short at once) are left out.

Managed money: Last 12 Weeks

Week to	Silver price	Long	Short	Net	Change
13 Oct 2026	$59.16	15,802	10,183	+5,619	−1,909
6 Oct 2026	$61.17	16,457	8,929	+7,528	−86
29 Sep 2026	$60.67	16,886	9,272	+7,614	−5,695
22 Sep 2026	$65.93	19,303	5,994	+13,309	+185
15 Sep 2026	$63.24	20,205	7,081	+13,124	−1,262
8 Sep 2026	$66.30	21,148	6,762	+14,386	+1,788
1 Sep 2026	$64.62	19,156	6,558	+12,598	−1,475
25 Aug 2026	$68.64	21,421	7,348	+14,073	+2,378
18 Aug 2026	$63.94	19,533	7,838	+11,695	+537
11 Aug 2026	$64.77	19,956	8,798	+11,158	−816
4 Aug 2026	$60.06	20,465	8,491	+11,974	+2,792
28 Jul 2026	$57.30	17,939	8,757	+9,182	−2,100

Silver COT Report: FAQ

What is the COT report?

The Commitments of Traders report is published by the US Commodity Futures Trading Commission (CFTC) every Friday at 3:30 pm Eastern time. It shows the futures positions held on the previous Tuesday by each group of traders in markets such as COMEX silver futures, split into long and short positions.

Who is "managed money"?

Hedge funds and commodity trading advisers (CTAs) that trade futures for clients — the group most watched as a gauge of speculative sentiment. Producers and merchants are miners, refiners and fabricators hedging their metal; swap dealers are mostly banks offsetting deals with clients, and they are usually net short.

What is managed money's position in silver now?

Net long 5,619 contracts (28.1 million ounces) as of 13 October 2026, or 5.2% of open interest. The largest net long since 2006 was 98,564 contracts (11 Apr 2017); the lowest was -48,923 (4 Sep 2018).

Does positioning predict the silver price?

Not reliably. When speculators are already very long, there are fewer new buyers left and a sell-off can be sharp, so extreme readings are watched as a contrarian signal — but positions can stay extreme for months. Positioning mostly follows the price, rather than leading it.

When is the next report?

The CFTC publishes every Friday at 3:30 pm ET (Monday or later after US holidays), with positions as of that Tuesday. The latest report on this page was released on Friday 16 October 2026.

Source: US Commodity Futures Trading Commission, Commitments of Traders (disaggregated report, futures only), weekly since Jun 2006. Not investment advice.