What if the futures haven't been sold by the delivery date?
Will be forced to close the position, individual investors can not make physical delivery of commodity futures. They need to close their positions before delivery, otherwise they will be forced to close their positions. Futures companies usually call before closing their positions. In commodity futures trading, individual investors have no right to hold positions before the final delivery date. If they don't close their positions themselves, they will be forced to close their positions by the exchange. Only the spot enterprises that apply for hedging qualification from the exchange and get approval can hold their positions until the final delivery date and enter the delivery procedure.
The forced liquidation of futures will not become penniless like warrants, but only calculate the money according to the points on the delivery date, which may earn or lose. Historical data shows that most futures investors who are forced to close their positions are losing money. The next trading day after the delivery notice is signed by the buyers and sellers of futures is the delivery date, and futures investors should pay attention to delivery before the delivery date.
Delivery in futures refers to the process that when the contract expires, both parties to the transaction settle the outstanding contract by transferring the ownership of the subject matter contained in the contract or settling the cash difference at the specified settlement price according to the rules and procedures of the futures exchange.