COT Index

The COT Index is a normalization tool that maps a category's current net position onto a 0-100 scale, where 0 is the most short and 100 the most long that group has been over the selected lookback window. It turns a raw contract number into a relative reading.

For a bullion trader, the COT Index makes positioning comparable across time and contracts. A reading near the extremes flags that a group is unusually long or short versus its own recent range, which can highlight crowding or stretch faster than the raw number.

The value depends entirely on the chosen lookback: a shallow window can exaggerate stretch while deep history can soften recent context. A high or low COT Index is useful range context, not a magic score or a reversal trigger, and is best paired with the lookback used to compute it.