Contract specifications Closing out positions Enter into a contract that is the opposite of the original contract a An example March 6, long one July corn futures contract April 12, short one July corn futures contract Charles cao4 Charles Cao Contract Specifications ◼ Closing out positions ◼ Enter into a contract that is the opposite of the original contract ◼ An example: ◼ March 6, long one July corn futures contract ◼ April 12, short one July corn futures contract