Generally speaking, futures are futures contracts. According to the contract, a trader can buy or sell a certain amount of a commodity or financial asset at a specified price at a certain time in the future, and its main function is to prevent the risk of price changes.

Futures are different from spot. Spot is a real tradable commodity. Futures are standardized tradable contracts based on some popular products, such as cotton, oil and financial assets, such as stocks and bonds. The subject matter can be commodities or financial instruments.

The daily limit refers to the maximum daily limit of the day when the stock falls, and the stock exchange has a daily limit. For example, the A-share market has a daily limit of 10%, the stock of science and technology innovation board has a daily limit of 20%, and the stock of S or ST has a daily limit of 5%. When the stock falls to the maximum, it is called the limit.