Economic calendar
Silver COT report: what money managers hold
Money managers, the hedge funds and commodity trading advisers in the CFTC's report, were net long 3,505 COMEX silver futures contracts on Tuesday 20 October 2026, down 2,114 contracts on the week. The CFTC's next report is due on Friday 30 October 2026 at 3:30 p.m. New York time, with positions as of the Tuesday before.
Net position
+3,505
Net long, contracts, 20 October 2026
Change on the week
-2,114
From +5,619 on 13 October 2026
Share of open interest
3.1%
Net over all 113,992 open contracts
In its 3-year range
21%
0% is the lowest net of the last 156 weeks (-8,983), 100% the highest (+49,488)
CFTC figures, futures only. Our arithmetic: net is long minus short; the share and the 3-year range are worked out from the same rows.
Money managers' net position since 2006
Highest net: +98,564 on 11 April 2017. Lowest: -48,923 on 4 September 2018. 1,063 weekly reports.
The last 26 weeks
| Week (Tuesday) | Long | Short | Net | Change | Open interest |
|---|---|---|---|---|---|
| 20 October 2026 | 16,180 | 12,675 | +3,505 | -2,114 | 113,992 |
| 13 October 2026 | 15,802 | 10,183 | +5,619 | -1,909 | 108,433 |
| 6 October 2026 | 16,457 | 8,929 | +7,528 | -86 | 105,130 |
| 29 September 2026 | 16,886 | 9,272 | +7,614 | -5,695 | 107,047 |
| 22 September 2026 | 19,303 | 5,994 | +13,309 | +185 | 106,474 |
| 15 September 2026 | 20,205 | 7,081 | +13,124 | -1,262 | 103,745 |
| 8 September 2026 | 21,148 | 6,762 | +14,386 | +1,788 | 103,250 |
| 1 September 2026 | 19,156 | 6,558 | +12,598 | -1,475 | 104,362 |
| 25 August 2026 | 21,421 | 7,348 | +14,073 | +2,378 | 113,801 |
| 18 August 2026 | 19,533 | 7,838 | +11,695 | +537 | 120,117 |
| 11 August 2026 | 19,956 | 8,798 | +11,158 | -816 | 115,127 |
| 4 August 2026 | 20,465 | 8,491 | +11,974 | +2,792 | 111,999 |
| 28 July 2026 | 17,939 | 8,757 | +9,182 | -2,100 | 106,719 |
| 21 July 2026 | 18,204 | 6,922 | +11,282 | -219 | 106,410 |
| 14 July 2026 | 17,554 | 6,053 | +11,501 | -1,700 | 105,023 |
| 7 July 2026 | 19,294 | 6,093 | +13,201 | -581 | 104,859 |
| 30 June 2026 | 19,349 | 5,567 | +13,782 | +2,041 | 108,964 |
| 23 June 2026 | 17,559 | 5,818 | +11,741 | -1,144 | 108,944 |
| 16 June 2026 | 18,739 | 5,854 | +12,885 | +2,482 | 107,721 |
| 9 June 2026 | 16,336 | 5,933 | +10,403 | -41 | 103,440 |
| 2 June 2026 | 17,047 | 6,603 | +10,444 | +389 | 102,809 |
| 26 May 2026 | 16,670 | 6,615 | +10,055 | -1,509 | 101,744 |
| 19 May 2026 | 17,944 | 6,380 | +11,564 | -4,197 | 100,751 |
| 12 May 2026 | 21,191 | 5,430 | +15,761 | +4,918 | 103,800 |
| 5 May 2026 | 15,697 | 4,854 | +10,843 | +237 | 96,932 |
| 28 April 2026 | 14,576 | 3,970 | +10,606 | +1,738 | 101,275 |
Source: CFTC Public Reporting Environment, Disaggregated Futures Only, SILVER - COMMODITY EXCHANGE INC. (code 084691), read 26 October 2026. Release days: the CFTC's release schedule.
What "money managers" means
The CFTC sorts every large trader into one group. Money managers are registered commodity trading advisers, commodity pool operators and funds the CFTC counts with them. They trade for clients and their own book rather than to hedge metal they mine, refine or use, so their position is the closest thing the report has to a speculator gauge.
How to read the numbers
The net position is long contracts minus short ones. A large net long means many funds already bet on higher silver; a fast drop in it means they sold. The 3-year range puts this week against the last 156: near 100% the net long is close to its highest in that time, near 0% close to its lowest. A spreading column, positions held on both sides, is left out of the net.
Timing
Positions are counted on Tuesday and published three days later, so the report always lags the price. The CFTC's next report is due on Friday 30 October 2026 at 3:30 p.m. New York time, with positions as of the Tuesday before.
The same page for gold: gold COT report. What silver did after US data: gold after CPI and after FOMC.
Questions and answers
What is the silver COT report?
The Commitments of Traders report is the CFTC's weekly count of who holds US futures. For silver it covers COMEX silver futures (one contract is 5,000 troy ounces, as the CFTC lists it), split into producers, swap dealers, money managers and other traders. This page follows money managers, the group traders call speculators.
When does the COT report come out?
On Friday at 3:30 p.m. New York time in most weeks, with positions as of that Tuesday; a federal holiday can push it back a day or two. The CFTC's next report is due on Friday 30 October 2026 at 3:30 p.m. New York time, with positions as of the Tuesday before.
Are money managers long or short silver?
Net long as of 20 October 2026: 16,180 contracts long and 12,675 short, a net +3,505. That is 3.1% of all open silver futures. In the last three years their net position ranged from -8,983 to +49,488.
Does the COT report predict the price?
No. It shows positions a few days old, after the price has already moved. Traders read extremes as a sign that a crowded trade could unwind, but a crowded trade can stay crowded for months. This page is a record, not a signal.
Not financial advice. Read our disclaimer.
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