The operation of buying hedging is mainly applicable to the following situations: ① It is expected to buy a certain commodity or asset in the future, and if the purchase price has not yet been determined, it is worried that the market price will rise and increase its purchase cost; ② At present, I don't hold a commodity or asset, but I have sold the commodity or asset at a fixed price (at this time, I am in a short spot position), and I am worried that the rising market price will affect its sales income or procurement cost; (3) selling the finished products and by-products of a commodity at a fixed price, but not purchasing the commodity for production (at this time in a short spot position), fearing that the market price will rise and the procurement cost will increase.