These charts bring together four studies available separately and one new study.
Nearest Futures - Each contract is plotted beginning one trading day before the previous contract expires until its own expiration. There is no shifting of the contracts.
Single-Month Seasonal - A seasonal is made from the last 15 years of contracts of the same month as the current front
month using a simple arithmetic average. The seasonal (black line) as well as an envelope (gray lines) one standard deviation
wide are plotted.
Commitment of Traders - This plot shows the open interest of each category
of the Commitment of Traders data as a percentage of the total open interest.
- commercial net long - red line
- non-commercial net long - blue line
- small trader net long - black line
Open Contracts - This plot shows the next years' worth of open contracts.
Nearby Spread - This is a plot of the spread: long front month/short the next further out month. When the front month expires both
legs get rolled over to their next further out month.