Opening a position means that investors buy or sell a certain number of stock index futures contracts. Investors can choose to close their positions in advance before the contract expires; If you hold the contract until the last trading day, you must settle the futures trading through cash delivery.

Opening a position in futures trading is equivalent to buying in stock trading. Because futures trading has a two-way trading mechanism, there are two kinds of buying and selling.

2. Long and short positions

In stock index futures trading, the positions held by investors after buying stock index futures contracts are called long positions, referred to as long positions;

The position held after selling the stock index futures contract is called short position, referred to as short position. Investors holding long positions think that the price of stock index futures contracts will rise, so they choose to buy;

On the contrary, investors who hold short positions think that the price of stock index futures contracts will fall, so they choose to sell.

For example, on June 5438+February 2009 1, an investor opened a position to buy 09 12 Shanghai and Shenzhen 300 stock index futures 10 lots (sheets), and the transaction price was 3300 points. At this time, he has a long position of 10.

By February 4th, 65438, investors saw that the price of stock index futures had gone up, so they sold six closed futures contracts of 09 12 CSI 300 at the price of 3350 points. After the transaction, the actual position of the investor is only four long positions.

It should be reminded that investors must indicate whether to open positions or close positions when issuing trading orders.

If an investor sells and opens 6 lots on February 4, 65438, the actual position of the investor after the transaction is not 4 long lots, but 10 long and 6 short lots.