Closeout trades prior to the contract's settlement date end the trader's position and result in the settlement of the futures contract.

Name: Closeout trades prior to the contract's settlement date end the trader's position and result in the settlement of the futures contract.
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Closeout trades involve offsetting a position before the contract's settlement date, preventing the need for physical delivery or cash settlement.

Closeout Trades Prior to the Contract's Settlement Date End the Trader's