NYMEX · Metals · Futures
NYMEX Palladium (PA): 100 troy ounces, physically delivered, traded nearly 24 hours a day on CME Globex.
Source: CME Group contract specifications · reviewed Sep 30, 2026
| Contract | Roll date | First notice | Last trading day | Days left |
|---|---|---|---|---|
| PAZ26 Dec 2026 Active | Tue, Nov 24, 2026 | Mon, Nov 30, 2026 | Tue, Dec 29, 2026 | 91 |
| PAH27 Mar 2027 | Tue, Feb 23, 2027 | Fri, Feb 26, 2027 | Mon, Mar 29, 2027 | 181 |
| PAM27 Jun 2027 | Tue, May 25, 2027 | Fri, May 28, 2027 | Mon, Jun 28, 2027 | 272 |
| PAU27 Sep 2027 | Thu, Aug 26, 2027 | Tue, Aug 31, 2027 | Tue, Sep 28, 2027 | 364 |
| PAZ27 Dec 2027 | Wed, Nov 24, 2027 | Tue, Nov 30, 2027 | Wed, Dec 29, 2027 | 456 |
| PAH28 Mar 2028 | Thu, Feb 24, 2028 | Tue, Feb 29, 2028 | Wed, Mar 29, 2028 | 547 |
Roll. The date shown is three business days before first notice, when speculators roll to the next active month.
First notice day. Last business day of the month before the contract month. Longs can be assigned delivery from here on – brokers usually require longs to be closed or rolled before this date.
Last trading day. Third last business day of the contract month.
US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15 · Mar 26 · May 31 · Jun 18
Calculated from exchange rules and the US exchange holiday calendar. Confirm with the CME Group expiration calendar.
| Session | Eastern (ET) | Central (CT) | Your time |
|---|---|---|---|
| CME Globex (electronic) | Sun–Fri 6:00 p.m. – 5:00 p.m. | Sun–Fri 5:00 p.m. – 4:00 p.m. | – |
| Daily maintenance break | Mon–Thu 5:00 – 6:00 p.m. | Mon–Thu 4:00 – 5:00 p.m. | – |
Holiday hours differ – check the exchange holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).
| Contract | Maintenance |
|---|---|
| PAZ26 Dec 2026 Active | $12,230 |
| PAH27 Mar 2027 | $12,390 |
| PAM27 Jun 2027 | $12,541 |
| PAU27 Sep 2027 | $12,692 |
Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.
−669 net contracts
−14 vs. prior week · −4.0% of OI
Movement (6 wk): −6
Producers, merchants, processors and users hedging physical business – the classic commercials. They tend to buy weakness and sell strength.
+3,900 net contracts
+167 vs. prior week · +23.3% of OI
Movement (6 wk): +4
Swap dealers – banks hedging OTC swaps, including commodity index money. Often structurally positioned; read against their own range, not the sign.
−6,006 net contracts
−318 vs. prior week · −35.9% of OI
Movement (6 wk): −6
Managed money – CTAs, commodity pools and hedge funds. Trend followers; their positioning tends to peak near turning points.
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Producers / Merchants | 891 | 1,560 | −669 | −14 | −246 | 42 | 41 | −6 |
| Swap Dealers | 6,179 | 2,279 | +3,900 | +167 | −258 | 91 | 37 | +4 |
| Managed Money | 4,028 | 10,034 | −6,006 | −318 | −507 | 13 | 59 | −6 |
| Other Reportables | 1,911 | 438 | +1,473 | −65 | +798 | 85 | 62 | +8 |
| Nonreportables | 2,725 | 1,423 | +1,302 | +230 | +213 | 100 | 64 | +27 |
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Commercials | 7,156 | 3,925 | +3,231 | +153 | −504 | 69 | 37 | −1 |
| Non-Commercials | 5,939 | 10,472 | −4,533 | −383 | +291 | 12 | 62 | −4 |
| Nonreportables (small) | 2,725 | 1,423 | +1,302 | +230 | +213 | 100 | 64 | +27 |
| Report date | Producers / Merchants | Swap Dealers | Managed Money | Other Reportables | Nonreportables | Open interest |
|---|---|---|---|---|---|---|
| Sep 22, 2026 | −669 | +3,900 | −6,006 | +1,473 | +1,302 | 16,730 |
| Sep 15, 2026 | −655 | +3,733 | −5,688 | +1,538 | +1,072 | 16,707 |
| Sep 8, 2026 | −437 | +3,269 | −4,339 | +627 | +880 | 16,773 |
| Sep 1, 2026 | −263 | +3,576 | −4,619 | +314 | +992 | 16,497 |
| Aug 25, 2026 | −423 | +4,158 | −5,499 | +675 | +1,089 | 17,496 |
| Aug 18, 2026 | −236 | +3,834 | −5,317 | +919 | +800 | 18,366 |
| Aug 11, 2026 | −183 | +3,558 | −4,947 | +1,031 | +541 | 18,194 |
| Aug 4, 2026 | +102 | +3,716 | −5,458 | +1,123 | +517 | 18,574 |
| Jul 28, 2026 | +632 | +3,782 | −6,173 | +1,406 | +353 | 18,699 |
| Jul 21, 2026 | +775 | +3,926 | −6,617 | +1,614 | +302 | 18,440 |
| Jul 14, 2026 | +597 | +3,819 | −6,227 | +1,338 | +473 | 18,578 |
| Jul 7, 2026 | +509 | +3,652 | −6,381 | +1,723 | +497 | 17,854 |
Source: CFTC Public Reporting Environment · contract market code 075651 (PALLADIUM - NEW YORK MERCANTILE EXCHANGE)
Before commissions and exchange fees. Prices round to the nearest tick of 0.50.
One tick is $0.50 per troy ounce, worth $50.00 per contract. A $1.00 move is worth $100.
The COT Index places a group's current net position within its own range over a lookback window: 100 = the most net long in that window, 0 = the most net short. It measures positioning extremes, not timing.