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PJM Traders Make Long Case

September 07, 2021

PJM WEst Hub

Non-commercial traders of PJM West HUB RT Futures are 84% overall net long. This time last year, they were 72% net long, according to the CFTC Commitments of Traders Report. In addition to a more bullish skew, these traders are holding 41% more futures and options contracts year-over-year and have been steadily adding to their longs since March. Non-commercial traders are hedge funds and large financials, and futures tend to positively correlate with their positions.

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