"Building a position" is a futures term, also known as "opening a position", which refers to an investor's new purchase or sale of a certain number of futures contracts.

According to its definition, opening a position can be divided into buying opening and selling opening:

1. Buy opening: refers to buying a long order when placing an order, that is, against The index is bullish and bullish.

2. Sell opening: refers to buying a short order when placing an order, that is, being bearish or bearish on the index.

The whole process of futures trading can be summarized as opening a position, holding a position, closing a position or physical delivery. Buying or selling a futures contract in the futures market is equivalent to signing a forward delivery contract. If a trader keeps this futures contract until the end of the last trading day, he must close the futures transaction through physical delivery or cash settlement. However, there are only a few who perform physical delivery. Most speculators and hedgers generally choose the opportunity to sell the purchased futures contract before the end of the last trading day, or to buy back the sold futures contract. That is, a futures transaction of equal quantity and opposite direction is used to offset the original futures contract, thereby closing the futures transaction and releasing the obligation for physical delivery upon expiration. This act of buying back a sold contract or selling a bought contract is called closing a position. A contract that has not yet been closed after a position is opened is called an open contract or open position, also called a position. After opening a position, traders can choose two ways to close the futures contract: either choose an opportunity to close the position, or keep it until the last trading day and perform physical delivery.