Position 部位（持仓、头寸）

Position is the amount of cash, securities, commodities and to wider extent all financial instruments held and/or owned by a physical person or legal entity.部位（持仓、头寸）是个人或法人持有的和/或拥有的现金、证券、商品等金融工具的总金额。

个人观点

In financial trading, a position is a binding commitment to buy or sell a given amount of financial instruments, such as securities, currencies or commodities, for a given price.在金融交易中，部位（持仓、头寸）是以指定价格买入或卖出指定数量金融工具（如证券、货币或商品）的具有法律约束力的承诺。

In derivatives trading or for financial instruments, the concept of a position is used extensively. 在金融衍生产品交易中，或对于金融工具，“部位（持仓、头寸）”概念被广泛用运用。There are two basic types of position: a long and a short. 有两种基本类型的部位（持仓、头寸）：做多部位（持仓、头寸）和做空部位（持仓、头寸）。Generally speaking, long positions stand to gain from a rise of the price of the instrument and short positions froma fall(but with options the situation is more complicated).一般来说，做多部位（持仓、头寸）可以从金融工具的价格上涨中获利，而做空部位（持仓、头寸）可以从价格下跌中获利（期权的情况较为复杂）。

Options will be used in the following explanations. 下面的解释以期权为例。The same principle applies for futures and other securities. 同样的道理适用于期货和其它证券。For simplicity, only one contract is being traded in these examples.为了简单起见，在这些例子中只交易一个合约。

Long Position 做多部位 做多持仓 做多头寸 多头

When a trader buys an option contract that he is not short, he is said to be opening a long position. 当交易者买入一个还未持有的期权合约时，就说他建立（开立、进入）一个做多部位（持仓、头寸）。When a trader sells an option contract that he is already long, he is said to be closing a long position.当交易者卖出一个已经持有的期权合约时，就说他平掉（关闭、退出）一个做多部位（持仓、头寸）。

Short Position 做空部位 做空持仓做空头寸 空头

When a trader sells an option contract that he is not long, he is said to be opening a short position. 当交易者卖出一个还未持有的期权合约时，就说他建立（开立、进入）一个做空部位（持仓、头寸）。When a trader buys an option contract that he is already short, he is said to be closing a short position. 当交易者买入一个已经持有的期权合约时，就说他平掉（关闭、退出）一个做空部位（持仓、头寸）。

Net Position 净部位 净持仓 净头寸

Net position is the difference between total open long (receivable) and open short (payable) positions in a givenasset(security, foreign exchange currency, commodity, etc.) held by an individual.净部位（持仓、头寸）是个人或法人持有的指定资产（证券、外汇货币、商品等）中的全部敞口做多与做空部位（持仓、头寸）之差。

个人观点

部位（持仓、头寸）的三大属性

），是做多还是做空；

size），头寸中的“寸”即是此意；

翻译整理自 Position (finance)