Before closing the position: open the position after closing the position. That is, sell the futures contract first, expect the price to fall, and then buy the futures contract to close the position. It is equivalent to selling securities in the stock market first, and then buying coupons to return.

Open position: also known as open position, refers to a certain number of futures contracts newly bought or sold by traders. The first liquidation after opening is a kind of opening, that is, selling a certain number of futures contracts.

The whole process of futures trading can be summarized as opening positions, holding positions, closing positions or physical delivery. Ordinary investors cannot participate in physical delivery.