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Liquidity
For professionals · Free · Weekly
Liquidity
Trajectory.
The same data, unfiltered: reported dealer positioning, leveraged fund divergences, week-over-week flow, cost basis, analogs and options positioning across 24 markets.
- Issues
- 39
- First issue
- Feb 2026
- Coverage
- 24 markets · 6 asset classes
- Cadence
- Fridays, after the CFTC release
Issues
Page 4 of 4- April 2026
- W1504·11 Equity positioning is structurally bifurcated. S&P 500 dealers flipped to MODERATE SHORT GAMMA (z=−0.77) while Nasdaq dealers entered EXTREME LONG GAMMA (z=+1.65, 92nd percentile), producing a 2.33 z-score gap between the two indices.
- W1404·04 S&P 500 regime flipped to MODERATE SHORT GAMMA – the week’s dominant signal. Dealer z-score collapsed from +0.47 to −0.85 in a single week (−1.32σ), the largest one-week deterioration in the 104-week lookback.
- March 2026
- W1303·27 UST 2Y dealers at the most extreme short gamma reading across all markets (z=−3.45, 0th percentile), with seasonal confirmation (seasonal z=−2.91^). Dealers added −137,993 net contracts WoW – the largest single-week deterioration in the dataset.
- W1203·20 UST 2Y REMAINS AT EXTREME SHORT GAMMA (z=−2.24, 0th percentile) – the single most extreme reading across all markets. Seasonally confirmed (seasonal z=−2.13).
- W1103·14 UST 2Y dealers at EXTREME SHORT GAMMA (z=−2.59, 0th percentile) – the most extreme reading in the 104-week lookback – with FOMC in 6 days. Seasonal z of −2.33 confirms this is genuine, not a calendar artifact.
- W1003·07 Six regime transitions in a single week – the broadest repositioning event in the 104-week lookback. S&P 500 deteriorates (MOD LONG → NEUTRAL), while Nasdaq surges two notches (MOD SHORT → MOD LONG).
- February 2026
- W0902·27 Four simultaneous regime transitions this week – S&P 500, Nasdaq, UST 2Y, and UST 10Y dealer regimes all shifted toward NEUTRAL. This breadth of regime change in a single report is rare and signals a broad reset of dealer gamma conditions across asset classes.
- W0802·26 THREE REGIME TRANSITIONS THIS WEEK – S&P 500 (E-Mini: Extreme Short → Neutral; Consolidated: Moderate Short → Moderate Long) and Nasdaq Mini (Neutral → Moderate Long). This is the highest-signal event in weeks.
- W0802·23 Dealer Positioning Analysis – COT 260217