期货市场是一个双向交易制度的市场。在一个完整的期货交易当中只有，通常有以下几种方式了结自己持有的头寸：第一种，先买入 开仓，后卖出 平仓；第二种，先卖出 开仓，后买入 平仓；第三种，买入，等到期后交足额保证金参与交割、接货；第四种，卖出，等到期后交标准仓单（货物凭证）参与交割、收款。以上四种当中，第一、第二种方式就属于“对冲平仓”。
因此，虽然对冲希腊违约风险的CDS价格上涨，合同总数也在增加，但这些合同的实际未平仓额呈现下降。
So while prices for CDS insuring against a Greek default have risen and the overall number of contracts has increased, the actual outstanding value of those contracts has been declining.
若市场波动水平突然增大，对冲基金能够迅速地对日元空头头寸进行平仓，然而家庭投资者则倾向于采取观望态度。
If markets suddenly become more volatile, hedge funds can very quickly unwind their short yen positions, whereas households are more likely to sit tight.
为应对来自银行和投资者的赎回压力，一些对冲基金被迫平仓套取现金。
Faced with more demanding standards from their banks and investors, somehave been forced to unwind positions in order to realise cash.
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