Example: The price of gold is grams, and the quantity of each contract is 1kg. Every 1 yuan, each contract will appreciate by 1 ,000 yuan; Apple quoted tons, each contract 10 tons. For every increase of 1 yuan, the contract will increase by 10 yuan.
Extended data:
In the spot market and futures market, the same commodity is bought and sold at the same time in the same quantity but in the opposite direction, that is, the same quantity of futures is sold or bought in the futures market while buying or selling the real thing.
After a period of time, when the price changes make the profit and loss in spot trading even, the losses in futures trading can be offset or compensated. So as to establish a hedging mechanism between "now" and "period" and between near and far, and minimize the price risk.
What is the percentage? Generally speaking, the number of points actually refers to how much the futures price per ton has risen or fallen, with an increase of 30 points, which means that 100 has increased by 30 yuan. 30 points corresponds to 30% 100x30%=30.
The trends of spot and futures markets converge (under normal market conditions). Because these two markets are affected by the same relationship between supply and demand, prices rise and fall together. However, due to the opposite operation of these two markets, the profit and loss are also opposite, and the profit of the futures market can make up for the loss of the spot market.
Futures, commonly known as futures contracts, are standardized contracts made by futures exchanges, which stipulate to deliver a certain amount of subject matter at a specific time and place in the future. This subject matter, also known as the underlying asset, can be a commodity, such as copper or crude oil, a financial asset, such as foreign exchange and bonds, or a financial indicator, such as three-month interbank offered rate or stock index.
Futures are developed on the basis of forward trading. Forward trading means that buyers and sellers negotiate the price first, and then trade at this price at some time in the future. For example, farmers negotiated with grain processors and sold 50 tons of rice to grain processors at the price of 3 yuan/Jin three months later. This is a forward transaction.
Futures trading is also a kind of futures trading activity, but it is very different from forward trading. First of all, futures trading is a standardized contract transaction conducted on the futures exchange, which is conducted openly. The terms of each futures contract are standardized. For example, the maturity date is the last trading day on June 5438+05, and the underlying assets are electrolytic copper or five-year treasury bonds of a certain specification. The transaction of a contract is equivalent to the transaction of five tons of copper or treasury bonds with a face value of100000 yuan. There is no such provision for forward trading.
Secondly, the object of futures trading is futures contracts, not physical objects. Therefore, futures investors can make physical delivery or cash delivery when the contract expires. As far as physical delivery is concerned, one party pays cash and the other party hands over the goods of the specified specifications agreed in the contract, which is the same as the forward transaction; The difference is that futures contracts can be closed before the contract expires to reverse the original transaction. Therefore, futures trading is more liquid.
Finally, and most importantly, futures trading is carried out on the same day as the margin system and the debt-free settlement system, so its default risk is much lower than that of forward trading.