There are two kinds of empty positions. One case is that futures customers still owe money to the futures exchange after closing their positions, that is, the floating gain and loss of the account is ≥ the total amount of funds in the account, that is, the customer's equity is ≤0.
Due to the rapid changes in the market, the deposit in the account can no longer maintain the original contract before the investor adds the deposit. This kind of margin "zeroing" caused by forced liquidation due to insufficient margin is commonly known as "short position", and the meaning of "short position" is the same as "short position".
At present, there is basically no short position phenomenon in China, and there is no limit on the rise and fall. When the margin is maintained below, the futures company will automatically close the position. In Hong Kong's Hang Seng Index futures, the Hang Seng Index is a four-hour trading system. The next day, there may be a big gap or gap, which will lead to the reversal of positions, and the position will explode as soon as it opens, or even be negative. The negative number is the money owed to the futures company, because the futures brokerage company invests the money in the futures exchange in order to close the position of customers. Example 1: Example 4. Before the market opened in August 1 1, the customer failed to pay the additional margin to the futures company. In September, the stock index futures contract fell by 90 points, opened at 1060 and continued to fall. The futures brokerage company forced the liquidation of customers 15, and the transaction price was 1055.
In this way, the situation of this account is:
Profit and loss of liquidation on the same day = (1055-1150) ×15×100 =-142,500 yuan,
Handling fee =10×15 =150 yuan.
Actual rights and interests =124850-142500-150 =-17800 yuan.
That is, the customer owes the futures brokerage company 17800 yuan.
When there is a short position, investors need to make up the deficit, otherwise they will face legal recourse. In order to avoid this situation, it is necessary to control positions specially and avoid Man Cang operation like stock trading. And track the market in time, and you can't buy it like a stock market. Therefore, futures are not suitable for any investor to do.
Fund Project Amount (Unit)
August 10 equity124,850
(+) Profit and loss at the end of the period-172,500 yuan
(+) Position Gain/Loss 0
(-) Handling fee 50
= August 1 1 day Equity-47,800
Another situation of warehouse explosion: warehouse explosion caused by heavy warehouse operation is more common. For heavy positions, if the proportion of positions is above 90%, there is less unused funds and less room to resist reverse changes. Heavy warehouse operation is a way of small profits but quick turnover. Why? Because of the reverse change, if the margin is insufficient, you will explode. This is a software system that will automatically prevent you from closing your position. After the explosion, you didn't lose much money in your account, let alone negative, but the value of the contract you held, which is a lot of money. For example, if you have a principal of $65,438+$0,000, your position occupies $9,000, and only $65,438+$0,000 is unoccupied. If the loss of 65,438 yuan+0,000 yuan is written off and the margin is insufficient, the system will automatically close the position, that is, explode the position. At this time, your account funds are not zero, but there are still $9,000.