ERCOT Traders Continue Short Streak
July 27, 2020
Non-commercial traders of ERCOT North real-time daily fixed price futures and options continue to reduce long positions in favor of shorts. In last week’s CFTC Commitments of Traders report, this class of trader dipped below 10,000 MWh in longs and above 3,000 MWh in shorts for the first time in 2020. Since late March, individual investors, hedge funds and large financial institutions have reduced interest in long futures and options by about 50% while nearly doubling their short futures and options.