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Nikkei 225 COT positioning

Speculators are net long nikkei 225, at the 66th percentile of the last three years, which is within its normal range rather than at an extreme.

Net speculative position +6,516 contracts
Three year percentile 66th within its normal range
Last more extreme within two weeks
One contract the CME yen-denominated contract
Net speculative position, 28 October 2025 to 20 October 2026. Scaled to this market's own range over the period, from -1,285 to +8,008 contracts. The line marks zero, where the book flips between net long and net short.

Reading as of 20 October 2026. The CFTC publishes weekly with a three day lag, so this describes the previous Tuesday. In the terminal, COT positioning carries the week on week change for every market and COT history carries this book in depth: its full history, and week by week with the weeks it flipped side. Both are Pro panels; free accounts read three months of COT history.

Reading it

What this book is, and how it behaves.

Nikkei positioning is frequently paired with a yen position, so it should be read alongside the yen book rather than on its own.

Positioning at an extreme is a description of where the crowd sits, not a forecast. A crowded book can stay crowded for months and get more crowded on the way. What it does tell you is who is already in the trade, which is what decides how violently a market reacts when the news goes the other way.

Nikkei 225 positioning, answered.

Are speculators net long or net short nikkei 225?

Speculators are net long nikkei 225, at the 66th percentile of the last three years, which is within its normal range rather than at an extreme. The net position is +6,516 contracts as of 20 October 2026.

What does one Nikkei 225 contract represent?

One contract is the CME yen-denominated contract. Nikkei positioning is frequently paired with a yen position, so it should be read alongside the yen book rather than on its own.

What is the COT report?

The Commitment of Traders report is published weekly by the CFTC. It breaks open interest in US futures markets down by category of trader. The figure here is the non-commercial, or speculative, net position: long contracts minus short contracts. It is reported with a three day lag, so the newest reading describes the previous Tuesday.

Does extreme positioning mean the price will reverse?

No. Positioning describes where the crowd sits, not what happens next. Crowded books can stay crowded for months and get more crowded on the way. It is a measure of who is already in a trade, which matters for how a market reacts to news, and it is not a timing signal.