"Opening a position" is a futures term, also known as "opening a position", which means that investors newly buy or sell a certain number of futures contracts.

According to its definition, opening positions can be divided into buying and selling:

1. Buying and opening positions refers to buying more than one order when placing an order, that is, being bullish on the index.

2. Selling and opening positions: refers to buying an empty order when placing an order, that is, bearish on the index.

The whole process of futures trading can be summarized as opening positions, holding positions, closing positions or physical delivery. Buying or selling a futures contract in the futures market is equivalent to signing a forward delivery contract. If the trader keeps the futures contract until the end of the last trading day, he must settle the futures transaction through physical delivery or cash settlement. However, only a few people make physical delivery, and most speculators and hedgers generally choose to sell the futures contracts they bought or buy back the futures contracts they sold before the end of the last trading day. That is, the original futures contract is written off through a futures trading fund with the same amount and the opposite direction, so as to end the futures trading and relieve the obligation of physical delivery at maturity. This behavior of buying back a sold contract or selling a bought contract is called liquidation. A contract that has not been closed after opening a position is called an open contract or an open position, also called a position. Traders can choose two ways to close futures contracts after opening positions: either choose the opportunity to close positions, or keep them until the last trading day and make physical delivery.