The locking of futures refers to the operation method of opening a new position in the opposite direction to the original position without closing (offsetting) the original position, and the contract month and position size (single quantity) are the same. As for the so-called "cross-market locking", "cross-variety locking" and "cross-month locking", they are essentially arbitrage transactions and are not discussed here. Locking generally means that when there is a floating loss in the position held, the trader has to lock the original position and open a new position because he is unwilling to close the position and ask for compensation. In fact, from the perspective of profit and loss, locking positions and closing positions are the same. Because no matter whether the price rises or falls in the future, it will not affect the profit and loss, but one is the actual profit and loss, and the other is the floating profit and loss (but it does not fluctuate with the price at this time, but it has actually become a fixed profit and loss), just because the psychological feelings of traders are different.

Closing positions automatically closes positions at the market price.