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Ultra T-Bond
Leveraged funds are net short 715,729 contracts, 29.8% of open interest. That is the 23rd percentile of its three-year range. The net position changed +10.5K contracts over the latest week.
Positions as of13 Oct 2026Updated 17 Oct 2026
01
Positioning history
The net position over time.
Positioning historyUltra T-Bond: leveraged funds net position.Net contracts · Above zero: net long · Below zero: net short
2026-10-13Net short 715,729
02
Participant structure
Who carries the reported exposure.
ParticipantNet contractsRelative size
Asset managers+776.5K
Dealers−97.6K
Leveraged funds−715.7K
Non-reportables+7K
Other reportables+29.8K
CFTC participant categories vary by report family. The primary positioning series uses managed money for physical commodities and leveraged funds for financial futures.
03
Comparable states
What followed similar positioning.
| Positioning bucket | N | 4W positive | 8W positive | 12W positive | Avg 12W |
|---|---|---|---|---|---|
| z ≥ 2.0 (extreme long) | 22 | 72.7% | 72.7% | 59.1% | -0.82% |
| 1.5 ≤ z < 2.0 | 18 | 44.4% | 44.4% | 55.6% | -1.05% |
| 1.0 ≤ z < 1.5 | 49 | 63.3% | 77.6% | 77.6% | -3.37% |
| neutral (−1.0 < z < 1.0) | 152 | 48.0% | 44.6% | 45.8% | +0.13% |
| −1.5 < z ≤ −1.0 | 88 | 51.1% | 59.1% | 39.8% | -0.24% |
| −2.0 < z ≤ −1.5 | 99 | 49.5% | 43.4% | 37.4% | -1.44% |
| z ≤ −2.0 (extreme short) | 57 | 36.8% | 26.3% | 42.1% | -1.02% |
Overlapping historical observations. Periods and sample sizes are shown so the comparison can be read in context.