Reconcile the account in three parts
Keep the old trade, any replacement trade and non-trading cash entries separate. A display change can occur without a transaction; a transaction can occur without a continuous chart showing the actual execution.
| Hypothetical long sequence | Gross result |
|---|
| Old entry 5,500; close 5,600; multiplier 10 | +$1,000 |
|---|
| New entry 5,700; close 5,650; multiplier 10 | −$500 |
|---|
| Combined trading result | +$500 |
|---|
| Illustrative total costs of $40 | −$40 |
|---|
| Net result after those assumed costs | +$460 |
|---|
The $40 is invented for the example. Actual commissions, spreads, financing and adjustments depend on the product and transactions. Do not add a daily futures settlement transfer again if it has already been included in the account's realised or cumulative result.
The same sequence for a short
With the same entries and exits, the old short loses $1,000 and the replacement short gains $500. The combined gross result is −$500. The gap between contract prices does not reverse that calculation.
A common mistake is to compare the first contract's entry directly with the second contract's final price. That ignores the price paid or received when closing one instrument and opening another.
A checklist before holding through expiry
- Confirm the exact product identifier and broker close-out deadline.
- Check whether replacement exposure is automatic, optional or absent.
- Record the multiplier and quantity on both legs.
- Review any cash adjustment separately from trading P&L.
- Check whether existing orders survive the process.
- Recalculate risk using the replacement instrument.
Does automatic closure mean the broker must reopen the trade? No: the product's policy determines what happens. Does a higher replacement price create a profit for a long? Not by itself; a newly opened trade starts at its own execution price.
Use the rollover calculator to organise separate legs, then review the contract-gap explanation. CME's expiry education ↗ provides general futures context; it is not a substitute for a CFD provider's policy.