COT report – October 30, 2026

Mohamad Gharib Independent Analyst

Key COT extremes and narrative takeaways

Highlights the six highest and two lowest Commercial COT Index readings, with Large Speculator positioning, weekly positioning changes, and price performance providing context for each extreme

Euro FX — 100%: Commercial positioning is at the highest level of its 26-week range. Large Speculators are net short at −143,894 contracts, with speculative net positioning shifted lower by 9,370 contracts. Price declined 0.41%.

Natural Gas — 100%: Commercial positioning is at the highest level of its 26-week range. Large Speculators are net short at −255,164 contracts, with speculative net positioning shifted lower by 13,892 contracts. Price declined 5.38%.

Silver — 100%: Commercial positioning is at the highest level of its 26-week range. Large Speculators are net long at +19,703 contracts, with speculative net positioning shifted lower by 92 contracts. Price declined 8.94%.

Platinum — 100%: Commercial positioning is at the highest level of its 26-week range. Large Speculators are net long at +9,294 contracts, with speculative net positioning shifted lower by 3,868 contracts. Price declined 7.80%.

Palladium — 100%: Commercial positioning is at the highest level of its 26-week range. Large Speculators are net short at −9,841 contracts, with speculative net positioning shifted lower by 708 contracts. Price declined 6.31%.

Copper — 100%: Commercial positioning is at the highest level of its 26-week range. Large Speculators are net long at +48,317 contracts, with speculative net positioning shifted lower by 9,080 contracts. Price increased 0.18%.

Swiss Franc — 12%: Commercial positioning is at the lower end of its 26-week range. Large Speculators are net short at −20,049 contracts, with speculative net positioning shifted lower by 1,899 contracts. Price declined 0.07%.

Japanese Yen — 7%: Commercial positioning is at the lower end of its 26-week range. Large Speculators are net long at +101,591 contracts, with speculative net positioning improved by 31,713 contracts. Price declined 0.53%.

Author

Mohamad Gharib

Independent Analyst

Mohamad Gharib is a Financial Markets Analyst and Quantitative Researcher with more than 18 years of experience in financial markets, including 15 years as an FX Quant Trader.

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