Total open position: refers to the total number of "open positions" of all investors in futures contracts. In the market information released by the exchange, there is a special "total position" column.
The change of total positions reflects investors' interest in contracts and is an important indicator for investors to participate in contract transactions. If the total positions keep increasing, it shows that both sides are building positions, investors' interest in contracts is increasing, and OTC funds are pouring into contract transactions; On the contrary, when the total position decreases, it shows that both parties are closing their positions and traders' interest in the contract is declining. On the other hand, when the trading volume increases, the total position changes little, indicating that the market is dominated by changing hands.
An open contract after an investor opens a position is called an open contract, also known as a position. After the stock index futures investors open their positions, there are two ways to close the stock index futures contract: either close the position in advance or hold it until the last trading day for cash delivery. Hand-changing transactions There are two kinds of hand-changing transactions: "long hand-changing" and "short hand-changing". When an investor who originally held a long position sold the position and a new investor opened a position to buy it, it was called "multi-position changing hands". "Short positions change hands" means that investors who originally held short positions are buying and closing positions, and new short positions are opened and sold. Total market position "total market position" means the total number of "open contracts" of all investors in futures contracts (including long and short positions). Investors keep opening and closing positions when trading, so the total market positions are constantly changing. The total position of stock index futures market is calculated unilaterally, which is different from the bilateral calculation of commodity futures market. For example, when trading a contract, one investor buys 1 contract and holds it, and another investor sells 1 contract and holds it. The total position in the stock index futures market is shown as 1 lot, while the total position in the commodity futures market is shown as 2 lots. The total market position is an important reference index for institutional investors to enter the market.