When we sell futures, our operation at this time is called shorting, that is, the futures company pays a sum of money to the settlement institution of the exchange as a performance bond, and then if we lose money by selling empty orders, the deposit will be deducted accordingly, otherwise it will be increased. After selling the futures contract, our liquidation is called buying, that is, the exchange will take out an extra order to offset with us when we close the position.
Of course, in futures trading, we must pay attention to closing our positions before the maturity date, otherwise our positions will be converted into physical objects in the future. If investors trade stock index futures, they will eventually take the form of cash delivery and then allocate positions directly.
Extended data:
Option trading account opening conditions:
Options trading accounts need to meet certain conditions, different investors have different conditions.
I. Individual investors
1. When applying for opening an account, the total market value of the securities entrusted by the option management institution and the available balance of the fund account shall not be less than RMB 500,000;
2. Designated trading in a securities company for more than 6 months and having the qualification to participate in margin trading or financial futures trading experience, or having opened an account in a futures company for more than 6 months and having financial futures trading experience;
3. Personal credit is good, with no bad credit record, and it is not prohibited or restricted from engaging in option trading by laws and regulations or the business rules of this Exchange;
4. Have the corresponding risk tolerance;
5. Experience in simulated trading of options recognized by this Exchange;
6. Have the basic knowledge of options and pass the relevant tests recognized by this Exchange.
Second, ordinary institutional investors.
1. When applying for opening an account, the total market value of the securities entrusted by the option operating institution and the available balance of the fund account shall not be less than RMB 1 ten thousand yuan;
2. Its net assets are not less than RMB 654.38+0 million;
3. The enterprise has good credit, no bad credit record, and is not prohibited or restricted from engaging in option trading by laws and regulations or the business rules of this Exchange;
4. Relevant business personnel have basic knowledge of options and have passed relevant tests recognized by this Exchange;
5. Relevant business personnel have experience in option simulation trading recognized by this Exchange.
The trading rules of stock options are as follows:
1, the number of single declaration shall not exceed 1 10,000, the minimum change unit of declared price shall be 0.00 1 yuan, the number of warrants bought shall be an integer multiple of 100, and the number of warrants sold shall be unlimited. For the warrants that investors hold less than 100, such as 99 warrants, they can also declare for sale.
2. The commission for warrant trading shall not exceed 0.3% of the transaction amount. When exercising, the investor shall pay 0.05% of the share transfer fee to the registered company according to the face value of the share transfer, and shall not charge the exercise commission. Investors can negotiate with securities companies to appropriately reduce the trading commission.
3. The increase of the warrants = the closing price of the warrants the day before (the increase of the underlying securities the day before-the closing price of the underlying securities the day before) × 125%× exercise ratio; The falling price of warrants = the closing price of warrants on the previous day-(the closing price of underlying securities on the previous day-the falling price of underlying securities on the previous day) × 125%× exercise ratio.
4. Warrant T+0 transaction, that is, warrants bought on the same day can be sold on the same day.
5. The time for accepting the exercise is 9: 00/5-9: 25 am, 9: 30 pm-1:30 pm and 13:00- 15:30 pm on the trading day.