I can sell a batch of futures in the futures market first. For example, cotton seems to have sold 10 lots. I don't actually have cotton in my hand. I sell futures, not spot. I didn't mean to give it to him. I sold it three months later, so I agreed to cash the cotton in this stone head for you three months later. But you don't have to worry about how to cash it. You will know in three months. I usually have two operations. One is that after three months, I really gave the spot of 10 ton to the other party, because although it was still futures, futures became spot after three months.
Sell a batch of futures first. I don't have this thing myself This is to open an empty list. I'll give him a list first. Whether it's a bill of lading or any other bill, I have this thing myself. It's like selling things in a supermarket. You sell someone else's 10 piece of mineral water, and someone else takes it, but you don't. It's like writing an airdrop check. If you solve this problem before someone comes to get it, I will give him 10 mineral water, or I will buy 10 mineral water.
Futures market is different from spot market. It has buying and selling, as well as opening and closing positions, but you don't have this thing yourself. You bought this thing and opened the warehouse. But this opening is not necessarily in stock, and it is not necessarily the real thing. It may be an option or a batch of futures, and then I usually have this position myself, but it was later leveled by some parties in the futures market. I don't have this position, so it's natural to close the position.