Stock index futures delivery refers to the difference between the "price" of the futures contract held by investors at the current delivery time and the spot index, which is equivalent to closing the position with the "price" of the spot index on the delivery day as the delivery price.
Determine the delivery price of stock index futures and then determine the delivery time.
The delivery time of stock index futures is set on the third Friday of each month (postponed in case of holidays).
This day is the last trading day of the month's contract, which is the delivery date of stock index futures. The so-called "delivery date effect" of stock index futures refers to the abnormal fluctuation of spot index or abnormal change of trading volume caused by the imbalance between stock spot market and futures market when the stock index futures contract expires, which will also appear in the futures market at the same time.