Open position: refers to the ratio of the market value (amount) of money held by investors to the total investment. In the futures market, open position refers to the sum of positions bought (or sold) before open position, and generally refers to the sum of open contracts in the buying and selling directions, also known as order quantity, which is generally even. By analyzing the change of positions, we can analyze the size, change and renewal of long and short forces in the market, thus becoming one of the technical analysis indexes different from stock investment.

Closing position refers to the behavior of futures traders to buy or sell futures contracts with the same variety, quantity and delivery month, but in the opposite direction, and to close their positions. Simply put, it means "sell what you bought and buy what you sold (short)."