CFTC Discussion Prep

Founders Sunday CFTC Discussion

Housekeeping: This is long and very wonky. Read bottom line and the more colorful quotes up top before wading in.

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Some quotes:

Lower Lows in Oi and Price with shorter cycle duration= Event Hoarding..

And they’re baaaaaack..banks must be shitting a brick now

Bank Swap Dealers are not making option markets now

The Citadel cavalry will come in soon, if for no other reason, to make money. The banks not doing their job projects weakness in US capital markets

TL/DR:

• Funds added longs. Banks added shorts

• If the post FOMC selloff was the only profit taking out there..then we are headed higher all the way to November 5th

• Net Fund positions are now over 55% of total OI which is higher than the Covid peak. This kind of jumps out and is consistent with the bank short side mirroring it.

• The full commercial (Swap Dealer plus users) net short position at 336k is the 2nd highest of all time achieved during Covid era.

• read the footnote1