The futures position overnight is like this: the position is the position list, and the position overnight is that the position list will not be settled until the next day (liquidation).

Before the expiration of physical delivery or cash delivery, investors can voluntarily decide to buy and sell futures contracts according to market conditions and personal wishes.

However, investors (bulls or bears) hold futures contracts without performing reverse operations (selling or buying) with the same delivery month and quantity. This operation is called "holding positions".

Extended data:

For domestic futures traders, whether it is short-term or long-term, the time difference between internal and external transactions may aggravate the risk of overnight positions;

Even if there is no time limit, some sudden risk "black swan" events that may occur overnight, or heavy data will lead to the opening of the market the next day, which will make traders feel scared and dare not hold positions overnight.

If the trend is consistent with your position, you may get rich profits by holding positions overnight, but once the above risk events occur, you may face huge loss risks.

For varieties that are greatly influenced by the external market, such as Shanghai copper futures, when the domestic market is closed, the international market is still trading. In case you go in the wrong direction and don't control your position well, when you wake up the next day, your account may have insufficient futures margin. If there are three boards in a row, the futures will explode.

References:

Baidu encyclopedia-positions