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"KH is willing to take on a 200 million project, and other investment banks have also expressed interest to some extent." Fox said with some anxiety: "The contract is too big."

"All intentions have been achieved. Our short-selling scale has reached about 2 billion US dollars. Lei, this is too exaggerated. This is enough to attract the attention of everyone on Wall Street. The Securities and Exchange Commission and the Banking Regulatory Commission will not sit idly by and ignore it. We have exceeded Bottom line, we are targeting a Fortune 300 company in the United States," Leo said with a smile on his face.

Everyone in the meeting ignored Leo's words. Although this guy was persuading between the lines, what were those excited and expectant eyes? You are so excited, do you still have the integrity of a trading department director?

"If we buy put options, our expenditure is actually not much, and the regulators will not obstruct normal transactions." Lei Hao looked at Fox.

"That would be equivalent to pushing the risk to the opponent, and it would be difficult to negotiate." Fox spread his hands.

The buyer of the option only has the power but not many obligations, while the seller bears almost all the obligations. Even if the probability of significant losses is low, if the total contract value is too high, few investment banks are willing to undertake this kind of business.

Besides, as Forest's opponents, they want to buy shares of Ant Energy Group in disguise at a suitable price, not just for the option premium.

The same principle can be applied to some financial products that are based on small profits. Forest's funds cannot find sufficient capacity in these areas, so it is normal for the leverage to be lowered.

Lei Hao was also helpless. The more put options he sold, the more difficult it would be for the buyer to exercise them.

For example, if you buy a put option with a contract face value of US$1 billion, and then the stock falls, you will make a profit. How should you make a profit? The answer is to either sell the option or go to the market to buy the stock and sell it to the option seller.

If you change hands with options, there will be too many contracts. If you sell them out, supply will exceed demand and prices will fall. If you go to the market to buy stocks, it will be strange if you buy too many and the stock price does not rise. In the end, it will support the stock price. Compressed own profits.

Quantity is a big issue. Short sellers have a natural weakness, that is, if they are not hedging, they do not have enough chips in their hands.

For a speculative short seller like Lei Hao to use such a huge amount of funds, there must be many problems.

But even so, the market is not willing to supply enough energy, and there is still a lot of work to be done to secure this investment.

"What do they think?" Lei Hao asked Fox.

Fox sighed silently in his heart and said: "Asking us to release the corresponding call options is the most appropriate approach."

"In other words, we want to make the market unilaterally?" Lei Hao felt very strange.

The profit direction of selling call options and buying put options are the same, but the former determines the maximum profit but is not sure of the maximum loss, and the latter is certain the maximum loss but is not sure of the maximum profit.

Everyone at Fox knows that the contract has been almost negotiated and the general tone has been set. Now is a point that can influence Lei Hao's decision, so everyone can speak freely and say everything they want to say at this moment.

Lei Hao also knows this, but after the amount of funds increases, which investment plan is risk-free? Unless he is satisfied with the current development speed, there is no difference at all between reaching out now and reaching out later.

Besides, it is such a rare event for a large group to have problems. If you want to find the next such opportunity, who knows how long you have to wait?

"According to the original plan, we will sign a contract with them. We will build as many positions as we have as many chips as we have." Without too much hesitation, Lei Hao still said firmly: "In terms of funds, we will first withdraw from the account established by LEI in Forest. If There are more...just send a report and I will raise money."

"OK."

"Fine."

Fox and others cheered up, but suddenly they didn't know what to say. Compared to this project, Forest's affairs in other fields were simply nothing.

As usual, after the meeting, Lei Hao, who held the authority of investment director, had to discuss the investment field with Leo and Yaman. They had to determine the distribution of funds and the investment plan of the project.

Other senior executives began to do auxiliary work around the direction of the investment department.

After determining the direction, negotiating a standard contract, and with the participation of several institutions, the clients of KH Investment Bank, who had initially made progress, suddenly found that they had a lot more potential as long as they met the qualifications specified by laws and regulations. choose.

Selling put options and buying call options at the same time, or selling put options directly, or doing some forward price contracts... There are so many tricks and names in the financial world that it's terrifying.

But no matter what the operation is, the direction given by KH Investment Bank to its clients is to go long on Ant Energy Group.

If they are ordinary customers, of course they are not interested. If they are optimistic about a certain stock, they will go directly to the secondary market to buy it. However, customers who can sign an investment contract with an investment bank can't afford to invest with more than 100,000 to 80,000 yuan. In their hands, It is possible to invest at least tens of millions, or even tens of millions of dollars.

With such a huge amount of money entering the stock market to operate a single target, the risk of being taught to be a human being is relatively high, but there is also a violation issue involved.

The securities market has always adhered to the three principles of openness, fairness and impartiality, and the same is true for the markets in Laos and the United States. Huge financial games occur off-site, which violates the principle of openness. If you are not trading in the normal market, how can ordinary investors participate? It would be strange not to take action against it.

Therefore, the way for investment banks is to circumvent these regulations, such as signing separate contracts and hedging into forward agreements. If that doesn't work, we won't be able to onyourtable anymore and the funds will be transferred to the international market. How do you manage it?

There is always something fishy about hedging with large amounts of money!

This is where Lei Hao's subordinates come into play. It is impossible for you to do these things alone, but a relatively mature organization can sign a structured contract, making short selling a reality.

The direction was determined on Friday. Saturday and Sunday are prime times for the financial circle to meet investors. Starting from the second week, after returning to work, the flow of funds and the signing of contracts began to advance rapidly.

The people at Forest have been withdrawing the money from the LEI entrusted account. This part of the funds that have not yet been fully injected into Forest is being consumed rapidly as the investment quota.

It lasted until Tuesday.

Sitting in the office, looking through the documents handed over by Fox, Lei Hao still smelled an unusual smell.

"The sources of funds are too concentrated!" Looking at the data fed back from the cooperative investment banks, Lei Hao believed that he was not the only one in Forest to see this problem.