Because the futures contract is essentially a contract, the date code of the contract is actually the expiration date of the contract, and the so-called delivery month is the expiration date of the futures contract. Delivery refers to the transfer of the ownership of the goods contained in the contract by both parties when the contract expires, which is also a process for investors to close their positions.
The seller collects the payment according to the contract standard, delivers the goods to the buyer, and pays the payment to the seller through the exchange to obtain the goods. Delivery methods, financial securities futures and stock index futures are mainly cash delivery.
? Commodity futures and treasury bonds futures are mainly physical delivery. We can see the delivery date from the contract code of futures, such as rb2 1 10 contract, which represents the price of rebar rb at 2 1 and 10. Then this year 10 is the delivery month, and the delivery date of each variety is different. You can check from the contract data of official website software of each exchange. Commodity futures contracts must be delivered.
? Therefore, before the delivery date, individual investors must stop holding positions before the stock index can be delivered. Individual investors of Dashang and Zhengshang cannot enter the delivery month. For example, cf2 109 must be closed on the last trading day at the end of August, so if you want to hold it for a long time, you can open a relatively long-term contract in advance or manually adjust the position.
The prophase does not include the prophase energy. Individual investors can hold positions in the delivery month, and the number of positions must meet the requirements, not just one position. Different varieties have a minimum number of trading lots, and the position must be a multiple of the minimum number of trading lots. Most varieties must be closed three days before the last trading day.