Changing the moon is an operation in futures trading. Generally speaking, when the futures delivery date approaches, investors will continue to be optimistic about the market outlook, so they will close the contract that is about to expire and buy the distant month contract at the same time. However, the exchange also has a compulsory liquidation system. Since the liquidation can be forced, why should investors change their own months?

Why should crude oil futures change months?

The reason why crude oil futures have to change months is actually influenced by trading rules. Near the delivery month of crude oil futures. General exchanges will increase the margin of crude oil futures contracts this month, and investors' transaction costs will increase, so they will change months; Furthermore, when the maturity date approaches, there will be many liquidation orders in the market, which will aggravate price fluctuations and further increase risks.