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I came across this article talking about "short interests" in VIX futures.

My question is what does "short interest" even mean here? My understanding is that the futures are not "issued" (opposite of how stocks work). An open interests of 10K contracts mean there are total of 10K contracts being bought and 10K contracts being sold. So "short interests" should just be equal to "open interests"?

https://seekingalpha.com/article/4037938-volatility-insights-can-learn-big-short-interest-vix-futures

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The Bloomberg ticker "CVXCTNCS Index" is the CFTC commitments of traders report for short positions of non-commercial traders, i.e. traders categorized by the CFTC as not having a commercial interest in trading VIX futures (e.g. to hedge an exposure created by a product that they are selling to clients). These traders are sometimes referred to as "speculators".

There is an offsetting long position for every short held by non-commercial traders. Some of those longs will be held by other non-commercial traders, some will be held by commercial traders, and some will be categorized as "non-reportable".

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  • $\begingroup$ Thanks, did not know about the classification between commercial and non-commercial guys $\endgroup$ – Vendetta Nov 5 at 13:50

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