2. The essence of stock index futures trading is rights and obligations based on standardized contracts, not securities that prove property ownership. The position in the stock index futures market refers to the contract position without hedging. If it is a contract buyer, it is a long position. If it is a contract seller, it is an empty position. Since there is no restriction on the circulation of futures contracts, as long as market participants can reach new transactions, theoretically, stock index futures positions can be infinitely enlarged.
3. From the perspective of the stock index futures market as a whole, bulls and bears must be equal, because contracts need to be traded, and both buyers and sellers are indispensable. Therefore, when any transaction is completed in the stock index futures market, long and short positions will change in the same amount and direction. The opening transaction will increase the long and short positions by the same amount, and the closing transaction will reduce the long and short positions by the same amount, so it is impossible for the total number of long and short positions to be unequal.
4. In the early stage of the development of China's futures market, due to the small market scale, there is a certain degree of separation between commodity futures and spot markets, and the system and supervision are still being explored. Sometimes, there will be a phenomenon that the main force depends on the financial strength to influence the market trend, which is what we usually call "getting rich", and even there will be short positions and forced prices.
5. In this case, the performance of long and short positions as the main capital intention has certain reference significance for investors to judge the market trend. However, with the rapid expansion of the futures market, the relevant systems, supervision and law enforcement of the futures market are in place, and it is difficult to see the traditional bookmakers in the commodity futures market.