Hedge position is a financial term, which is usually used for futures or options trading. It represents an investment strategy in which investors will hold portfolio positions that are opposite to their existing positions.

Specifically, if the investor has a call option position or a long position in the futures contract, then the hedging position means that the investor has a put option position with the same subject matter or an opposite short position. The purpose of doing this is to hedge the risks in the portfolio, so as to protect investors' profits or reduce potential losses.

The function of hedging position is to reduce the overall risk exposure of portfolio. When the market fluctuates unfavorably, the hedging position can offset part or all of the losses through the profit of the hedging position. However, hedging does not always completely eliminate risks, because the result of market changes is still uncertain.

It should be noted that hedging positions need to be determined according to market conditions and investors' risk preferences. When hedging positions, investors should have a full understanding of relevant financial products and markets and make investment decisions cautiously.