Futures delivery refers to the process in which both parties to the transaction close the contract at the end of the expiration period by transferring the ownership of the commodities contained in the futures contract when the futures contract expires. There are two types of delivery methods: cash delivery and physical delivery: Cash delivery refers to the expiration date of the contract. The difference in profit and loss between the buying and selling prices of both parties to the transaction and the settlement price on the expiration date is calculated, and the profit and loss portion is settled to the corresponding counterparty respectively. There is no involvement in the period. Physical delivery of the underlying; physical delivery refers to the expiration date of the contract. The seller delivers the corresponding goods according to quality and quantity to the exchange's designated delivery warehouse, and the buyer delivers the corresponding payment to the exchange to fulfill the futures contract. Generally, financial securities futures contracts are mainly traded in cash, while commodity futures contracts are mainly traded in physical delivery.

Close position refers to the act of a futures trader buying or selling a futures contract of the same variety, quantity and delivery month as the futures contract he holds but in the opposite trading direction to close a futures transaction. The whole process of futures trading can be summarized as opening a position, holding a position, closing a position or physical delivery. A contract that has not yet been closed after a position is opened is called an open contract or open position, also called a position. After opening a position, traders can choose two ways to close the futures contract: either choose an opportunity to close the position, or keep it until the last trading day and perform physical delivery.