In all futures contracts, even commodity futures, only 1% to 3% of futures contracts are delivered. That is, at expiration, the party that originally purchased a futures contract has sold a futures contract to offset their position. Since most market participants do not deliver or receive delivery of the contract, does this mean that most futures markets participants are speculators?

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The Answer of In all futures contracts, even commodity futures, only 1% to 3% of futures contracts are delivered. That is, at expiration, the party that originally purchased a futures contract has sold a futures contract to offset their position. Since most market participants do not deliver or receive delivery of the contract, does this mean that most futures markets participants are speculators?

In All Futures Contracts, Even Commodity Futures, Only 1% to 3