# COT weekly summary — 2026-09-15

Status: 4 divergence(s), 0 check failure(s). 14 markets.

## Largest speculator longs (net ÷ OI)
- natgas-henryhub (legacy): +67.1%
- gold (legacy): +56.2%
- gold (disagg): +32.5%

## Largest speculator shorts
- ust10y (tff): -34.7%
- bitcoin (tff): -22.6%
- vix (legacy): -19.4%

## Largest hedger longs / shorts
- vix (legacy): +18.4%
- crude-wti (disagg): +15.7%
- ust10y (legacy): +15.3%
- natgas-henryhub (legacy): -67.3%
- gold (legacy): -63.9%
- corn (disagg): -41.8%

## Stretched (beyond ±50%)
- natgas-henryhub (legacy) hedge: -67.3%
- natgas-henryhub (legacy) spec: +67.1%
- gold (legacy) hedge: -63.9%
- gold (legacy) spec: +56.2%

## Week over week
- Baseline week: not enough history for changes yet.

## Alarms — read before trading off this tape
- crude-wti hedge_pressure: views disagree on direction (legacy -8.4%, disagg +15.7%).
- nasdaq100 spec_pressure: views disagree on direction (legacy +9.4%, tff -3.8%).
- ust10y hedge_pressure: views disagree on direction (legacy +15.3%, tff -13.4%).
- bitcoin hedge_pressure: views disagree on direction (legacy +10.6%, tff -5.5%).