Entering a position, also called opening a position or opening a position, refers to the new purchase or sale of a certain number of futures contracts by traders. The whole process of futures trading can be summarized as opening positions, holding positions, closing positions or physical delivery. Buying and selling a futures contract in the futures market is equivalent to signing a forward delivery contract. If traders keep futures contracts until the end of the last trading day, they must settle futures transactions by physical delivery or cash settlement.