O.C.C Quarterly Derivatives Report Q4 2021-March25th, 2022
Notional Amounts of Derivative Contracts by Contract Type and Maturity (Precious Metals)
These are almost 100% Ag-they do not break it down by type and also remember this is not COMEX Ag but OTC so even though we've seen $4.5B in cash for contracts on the COMEX these #'s have nothing to do with the COMEX contracrts. What we are seeing on the COMEX with the EFP is likely BofA generating cash to pay off JP Morgan cause there is NO way they can deliver that amount over the terms they have signed up for-also no way to know what kind of "payoff" clause is insertetd into the physical leasing arrangements but have speculated that there is a cash payoff clause and the EFPs are the mechanism BofA are using.
Latest report shows that Bank of America has increased it's amount of shorts in the Ag position
This is listed in the far right column under Prec Metals All Maturitiesbut the bulk of all of this is in the Prec Metals Maturity < 1 yr column-fuscia circle
These are the short term positions that has been allowed by the CFTC-you'll have to ask them why they continue to produce this report yet do nuffin about it-afterall they are the "regulators"……
Bank of America
Q3, 2021:$18,266,000,000cap #2
Q4, 2021:$27,320,000,000cap #3
You can also see that it is now roughly equal to JP Morgan's positon which is the "long"
Q3, 2021:$27,612,000,000cap #2
Q4, 2021:$28,182,000,000cap #3
Also the other two misfits: Goldman and Shitibank have participation here as well with Goldman a particular "standout" as they have the least amount of "assets" backing any derivative positions and a huge increase (relative to Q3 position) while Chitibank has actually decreased it's position. See Lime Green circle on both cap #2 and 3
Goldman Sachs
Q3, 2021:$932,000,000
Q4, 2021:$4,810,000,000
Shitibank had a decrease in amount of derivative positions
Q3, 2021:$9,708,000,000
Q4, 2021:$6,979,000,000
The Goldman and Shitibank positions are playing roughly the same game just on a much smaller level
The total amount of derivatives has fallen from Q3 to Q4 but the news here is that Bank of America has increased it's position to be about equal to JP Morgan-so Ag prcing via the COMEX isn't going anywhere up or down for any length of ttime. They will each skim the profits of the moves they have been making but if the price dumps then you have a loser -JP Morgan and if it goes parabolic the loser is Bank of America. The historical pressure is on Bank of America as the price has been supressed for almost 200 years so the sacrifice will be B of A but only if they allow a consequence and judging by experience and the length of time this has been going on don't look for that to habben any time soon.
The interdasting "wrench" in this is the Private Advisors Group which is what really casued the spike in Ag last year-sorry reddittors that wasn't caused by retail and it will never be the cause of price action up or down. What it does do is increase the visibility of what they are doping above-and that has never been higher. If they keep adding to the positin in SLV or will they liquidate like they did last year.
>>>/qrb/128880 Private Advisors Group-amassed a huge position in SLV (Blackrock Ag ETF) last year and then sold it off…..they are back nao…KEK!
>According to 2021 Q4 13f filing they began to repurchase SLV increasing it's position 1014%
When that is updated it will provide a clearer picture
Not posting all the EFP stuffs EFP=An exchange for physical trade (EFP) is a privately negotiated and simultaneous exchange of a futures position for a cash position as we've shown that they did $4.5B in 10 trading days already.
https://www.occ.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/files/pub-derivatives-quarterly-qtr4-2021.pdf
#'s taken from page 26 of above link