In short
Speculators are net short CHF (building short over 12 weeks). Positioning sits at 0% of its 12-week range (flip 38th pct of 10y, z -0.39).
Weekly net positioning
Net non-commercial (large speculator) positioning over the last 12 weeks. A rising net means speculators are building longs; a falling net means they are building shorts.
| Week (Tuesday) | Net position | Week-over-week | Open interest |
|---|---|---|---|
| Jun 9, 2026 | -10,785 | -836 | 115,412 |
| Jun 2, 2026 | -9,949 | -5,126 | 111,432 |
| May 26, 2026 | -4,823 | +22 | 105,594 |
| May 19, 2026 | -4,845 | +2,863 | 104,225 |
| May 12, 2026 | -7,708 | -1,074 | 94,743 |
| May 5, 2026 | -6,634 | -1,460 | 94,468 |
| Apr 28, 2026 | -5,174 | -1,408 | 94,111 |
| Apr 21, 2026 | -3,766 | -345 | 91,532 |
| Apr 14, 2026 | -3,421 | -3,324 | 93,376 |
| Apr 7, 2026 | -97 | -1,587 | 86,646 |
| Mar 31, 2026 | +1,490 | +1,255 | 79,740 |
| Mar 24, 2026 | +235 | — | 76,518 |
How to read this
The flip percentile normalizes Swiss Franc net positioning against roughly ten years of history: 38.3% means speculators are leaning short versus their own history. The 10-year z-score (-0.39) confirms how stretched that is. Readings above the 90th percentile (or below the 10th) flag a crowded trade prone to a sharp unwind.
Positioning is a risk gauge, not an entry signal. Extremes can persist and get more extreme. Pair this with the fundamentals and a confirming move before fading a crowded trade. See how to read the COT report and using COT data to spot reversals.
Frequently asked questions
- Are speculators net long or short Swiss Franc?
- As of Jun 9, 2026, large speculators are net short the Swiss franc, with a net position of -10,785 contracts (6,830 long vs 17,615 short) in the CFTC Commitments of Traders report.
- Is Swiss Franc positioning crowded right now?
- No. Swiss Franc positioning sits at the 38.3% flip percentile of its 10-year range (z-score -0.39), which is not an extreme. Crowding warnings trigger above the 90th or below the 10th percentile.
- What is the COT flip percentile for Swiss Franc?
- Swiss Franc's flip percentile is 38.3% — where current normalized net positioning sits within roughly 10 years of history. Above 60 is long-side versus history, below 40 short-side; above 90 or below 10 is crowded.
- When is COT data for Swiss Franc updated?
- Weekly. The CFTC releases the Commitments of Traders report every Friday at 3:30pm ET with positions as of the prior Tuesday. This page last updated with data as of Jun 9, 2026.