You don't have to hold a trading position until it expires. You can reverse trade at any time before the expiration of the stock index futures contract to reverse the original position. This kind of transaction is called liquidation. For example, stock index futures contracts sell 10 on the first day and buy back 10 on the second day. Then the first one is the short position of opening 10 stock index futures, and the second one is the short position of closing 10 stock index futures. The next day I bought 20 lots of stock index futures contracts, and then I became a long position in 20 lots of stock index futures. Then sell 10 lots, which is called liquidation 10 stock index futures bulls, leaving 10 stock index futures bulls. A contract that is not closed at the end of a day's trading is called a position. In this example, on the first day after trading, the stock index futures with the position of 10 are short, and on the second day after trading, the stock index futures with the position of 10 are long.
Closing a position refers to the behavior of futures traders to buy or sell futures contracts with the same variety, quantity and delivery month but in the opposite direction, and close futures trading. The whole process of futures trading can be summarized as opening positions, holding positions, closing positions or physical delivery. An open contract after opening a position is called an open contract or an open contract, also known as a position. After opening the position, traders can choose two ways to close the futures contract: either choose the timing of closing the position or reserve it for physical delivery on the last trading day.
Open the warehouse, open the warehouse. There are usually two operating modes in trading, one is bullish (buyer) and the other is bearish (seller). Whether you are long or short, placing an order is called "opening a position". It can also be understood that in trading, whether buying or selling, all new positions are called opening positions.