Positioning & Sentiment
AAII and NAAIM sentiment surveys, CFTC futures positioning, and FINRA margin debt. The behavior of the marginal trader.
Positioning data reveals what the market is actually doing, as opposed to what it says it is doing. FINRA margin debt peaked ahead of every major bear market cycle of the last 40 years, while extreme readings in the AAII bull-bear spread are classic contrarian signals. CFTC commitments of traders separates speculative from commercial flow, identifying when large specs are overextended in either direction.
Data as of · 24 metrics with live data
Convex Risk Appetite Index
dailyConvex Risk Appetite Index, cross-asset risk appetite from 5 ETF price ratio z-scores (IWM/SPY, HYG/LQD, XLY/XLP, EEM/EFA, KRE/SPY). 0-100 scale.
Convex Narrative Velocity Index
dailyConvex Narrative Velocity Index, measures narrative acceleration across 46 RSS news sources via term frequency velocity, sentiment divergence, and source primacy. 0-100 scale.
FINRA Margin Debt
monthlyFINRA aggregate debit balances in customer securities margin accounts; the canonical aggregate margin-debt series, a widely watched retail leverage proxy.
FINRA Free Credit (Cash Accounts)
monthlyFINRA free credit balances held in customer cash accounts; liquid dry-powder sitting in brokerage accounts.
FINRA Free Credit (Margin Accounts)
monthlyFINRA free credit balances held in customer securities margin accounts; the complement to margin debt within leveraged accounts.
FINRA Net Margin Debt
monthlyMargin debt minus customer free credit balances (cash plus margin); the clean net-leverage series historically used to time equity bubble peaks.
BTC Net Speculative Positioning
weeklyCME Bitcoin futures net speculative positioning from CFTC COT report.
BTC Futures Open Interest
weeklyCME Bitcoin futures total open interest.
Gold Net Speculative Positioning
weeklyCOMEX Gold futures net speculative positioning.
Gold Futures Open Interest
weeklyCOMEX Gold futures total open interest.
WTI Net Speculative Positioning
weeklyNYMEX WTI crude net speculative positioning.
WTI Futures Open Interest
weeklyNYMEX WTI crude futures total open interest.
S&P 500 Net Speculative Positioning
weeklyCME E-mini S&P 500 net speculative positioning.
S&P 500 Futures Open Interest
weeklyCME E-mini S&P 500 futures total open interest.
Copper Net Speculative Positioning
weeklyCOMEX Copper futures net speculative positioning from CFTC COT report.
Copper Futures Open Interest
weeklyCOMEX Copper futures total open interest.
Euro FX Net Speculative Positioning
weeklyCME Euro FX futures net speculative positioning from CFTC COT report.
Euro FX Futures Open Interest
weeklyCME Euro FX futures total open interest.
Yen Net Speculative Positioning
weeklyCME Japanese Yen futures net speculative positioning from CFTC COT report.
Yen Futures Open Interest
weeklyCME Japanese Yen futures total open interest.
Treasury Bond Net Speculative Positioning
weeklyCBOT US Treasury Bond futures net speculative positioning from CFTC COT report.
Treasury Bond Futures Open Interest
weeklyCBOT US Treasury Bond futures total open interest.
10Y Note Net Speculative Positioning
weeklyCBOT 10-Year US Treasury Note futures net speculative positioning from CFTC COT report.
10Y Note Futures Open Interest
weeklyCBOT 10-Year US Treasury Note futures total open interest.
Crypto Fear & Greed Index
dailyCrypto market fear and greed index (0-100), extreme fear is contrarian bullish.
Equity Put/Call Ratio
dailyCBOE total equity put/call ratio, high readings signal fear, low readings signal complacency.
BTC Perpetual Funding Rate
dailyBitcoin perpetual futures funding rate, positive = longs pay shorts, negative = shorts pay longs.
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Data sourced from FRED, CoinGecko, CBOE, CFTC, and EIA. Updated at varying frequencies. This page is for informational purposes only and does not constitute financial advice.