Futures positions, also known as controlled positions or open positions, refer to the number of commodity futures contracts that have not been hedged and delivered in kind after buying or selling. Future positions's concept is similar to the circulation of stocks. On the first day of the contract listing, the position of the contract is zero. If only investor B is bullish and investor S is bearish, they will open positions to buy and sell the same contract at the same price. After the transaction is completed, the contract will have a corresponding number of positions. The circulation of stocks remains unchanged before distribution or capital increase, but the positions of futures contracts may change at any time during trading. As more and more investors join the bullish and bearish teams to trade, positions will continue to increase; When the loss-making investors stop loss and close their positions and the profit-making investors cash out, the positions will gradually decrease.

The content of this article comes from People's Republic of China (PRC) Financial Code: Application Edition by China Law Publishing House.