If you took a long position in a pork bellies futures contract and then forgot about it, what would happen at the expiration of the contract?

Question

Quizplus · Accepted Answer

If you hold a long position in a futures contract and do not liquidate it before its expiration, delivery of the underlying asset will occur. As a long position holder, you would receive the underlying asset (in this case, pork bellies) and would have to pay for it at the contracted price. However, most futures traders do not actually take delivery of the underlying asset, but rather liquidate their position before expiration. If you forget to do this, you would be notified that you owe the holder of the short position a certain amount of cash to settle the contract.

If You Took a Long Position in a Pork Bellies