According to my approach to calculating the number of speculators, the following is obtained:
If we take the old format, then the share of speculators by volume is, roughly speaking, 40%.
At the same time, it is also important to pay attention to the very number of traders..
If we take a new format, it turns out somewhere 43%.
But if you isolate the swap dealers, which are located, basically, like a buffer zone between hedgers and speculators, it turns out there are even more speculators, than hedgers, although the swap dealer is also like hedgers, but not in the sense of production necessity, then the share of specules increases to 77% 57%.
That's why, it's safe to say, that speculators in oil from 40% to 57% for comparison in silver the minimum is 50%,