It is a loss of 6.5438+0 million, which is called leverage effect. However, if there is only 6.5438+million in the account and the contract value falls to 6.5438+million, you will be forced to close the position, and you will not wait to fall to 6.5438+million.

The calculation method of futures profit and loss is as follows: you buy with 65,438+00% of the funds of the first-hand contract. Suppose steel is 1 1,000 yuan a ton, then you buy a 5-ton first-class contract, which means that you only need 5,000 yuan for the actual 5 tons, but you can buy a first-class contract only by using 500 yuan. So if you lose 10 yuan, the compensation is: 10 yuan times 5 tons times 1 hand, and then 50 yuan. If you don't have enough money in your account, you will be informed to replenish the funds in time, otherwise you will be forced to close your position, that is to say, 450 yuan will be pushed into your account to deduct your 50 yuan loss.