The futures price limit is generally 3%, 4%, 5% ... The futures price limit system means that the trading price of a futures contract in a trading day cannot be higher or lower than a certain fluctuation range based on the settlement price of the contract in the previous trading day, and the quotation exceeding this range will be considered invalid and cannot be traded. The price limit system implemented in China has the characteristics of "touching the board", that is, after the stock price or futures contract price reaches the price limit, the trading is not restricted, and the trading within or within the price limit can still be carried out until the market closes on the same day.