Comment: If you are long and

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In reply to comment: what does stand for delivery (see in situ)

If you are long and

you don't close out your position with an offsetting position, then you are standing for delivery. I'm sure the delivery method varies by the commodity being traded, but for metals I always thought it was settled with a warehouse receipt. The buyer can either continue to store it at the warehouse or go withdraw it. I could be wrong, but I'm not the one posting "articles" about a comex default and then asking what does stand for delivery mean.