# Block 006 — CFTC positioning interpretation

**Status:** ✓ done
**Phase:** Phase 1 (Rates)

## Topic scope

CFTC Commitments of Traders (COT) report methodology for Treasury futures. Dealer-short-cover squeeze mechanism. Speculator length as marginal buyer (more fragile than asset-mgr length). TFF (Traders in Financial Futures) report categories: dealer, asset manager, leveraged funds, other reportables.

## Session history

**Block 006 — CFTC positioning interpretation**

**2026-06-25 (Session 5, W26 Thu) — Self-study + synthesis:** CFTC T-note futures positioning read. Dealer-short-cover squeeze mechanism learned. Speculator length as marginal buyer (more fragile than asset-mgr length) articulated. Asymmetry between speculator and asset-mgr categories correctly identified.

**Anki cards:** 1 card — CFTC positioning interpretation (dealer-short-cover squeeze). Status: **Working** since 2026-06-25.

See `../session-log.md` for detailed session entries.

See `../session-log.md` for detailed session entries.