Overnight gap, conventional understanding is the gap between today's closing price and tomorrow's opening price. Take stocks as an example. If the closing price of a stock at 3 o'clock today is 3 yuan and the opening price tomorrow is 3. 1 yuan, then the difference between 0. 1 yuan is the difference overnight. Of course, it is also possible for 3 yuan to open, which means there is no overnight gap.

Futures means the same thing. But futures are different in that the gap is the difference between today's settlement price and tomorrow's opening price. What does the settlement price mean? It is relative to the closing price, that is, how much profit you make after the futures finally close on that day, not at the closing price, but at the settlement price. The settlement price is the price that is further weighted and averaged based on the price and combined with the volume of transactions, as your profit and loss calculation standard. For example, if you buy at 2.5 and the closing price is 2.8, you don't have to think about earning 0.3 for stocks, but futures are different. What does the specific settlement price mean? Ha ha. The overnight spread of futures is the difference between the opening price of the next day and the settlement price of the first day. Download some books on the basic knowledge of futures online and have a systematic look. I wish you success in your investment!