The Son of Finance of the Great Age

  Chapter 196 The second positive line (1)

"Carl..." Jerry hesitated to speak, looked at the traders around him, pulled the worried Carl aside, and said in a low voice: "Just now the brokerage company called and urged us to pay the margin again, our position It’s approaching the bottom line of maintenance.”

   "God, what are these vampires going to do? I don't know if we can make a profit tomorrow?" Carl put his head in his arms and couldn't believe what he heard. "What are these sons of **** going to do? Now that the trading time has passed, where can we get money?"

At this time, the trading time has passed. Although the telephone trading is 24 hours, except for the trading hours in the UK, other transactions are sporadic. With the current position of Carl Fund, even if it is traded all night, it is still average. Don't lose a lot of positions.

   "They also offered another plan." After being silent for a long time, Jerry finally put forward the broker's suggestion, "They invested 5 million US dollars to acquire all of our positions."

"Five million dollars? Are they crazy? If I close the position now, I still have at least eight million dollars in capital! These **** British people will take advantage of the fire!" Carl shouted angrily, and fiercely He kicked the chair beside him, and the innocent sofa rolled on the floor several times with a loud bang before stopping five meters away.

   "Carl, if they withdraw at this time, we will lose more." Jerry had to remind.

Generally speaking, brokers will strongly encourage customers who use their brokerage channels to use leverage, that is, borrow funds from brokers for operations, because in this way brokers can earn commissions through more buying and selling operations, and on the other hand, they can also use surplus Funds earn interest. But the capital market is risky, and the brokerage company must always pay attention to the balance of this account, because if a liquidation occurs, the brokerage company's funds may also lose their money.

  Obviously, it is not too much for the brokerage company to ask for margin payment in this case, at most it is a necessary measure they take to control risks. The other option, which is to buy all their positions with $5 million in cash, is a blatant robbery, because even at today's closing price, the Cal Fund's position is still worth $13.5 million, and there is another $5 million cash or so.

   Among these funds, nearly 10 million US dollars belonged to the brokerage company, which means that the Carl Fund has lost 6 million US dollars so far, not only losing all the hard-earned 5 million US dollars in profits, but also damaging the principal.

   But even so, Carl's positions and cash add up to at least $8 million or more. It's no wonder that when Jerry talked about the second option, Carl gave a furious reaction.

Seeing Carl's angry look, the other traders looked away one after another, pretending that it had nothing to do with them, but everyone's ears couldn't help but **** up, wanting to hear the news not far away. What the **** are Carl and Jerry talking about.

   "Tell me, why did they think of buying our positions instead of forcing us to close them?" After venting his anger, Carl suddenly calmed down and remembered the weirdness.

"This is exactly what I want to report to you." Jerry looked carefully at Carl's face, making sure that he had completely calmed down before continuing: "I personally think that their judgment on the market outlook is a big drop, otherwise they won't made such a request.”

  Thinking of this, Karl not only gasped, but also cursed these brokers for being too insidious. If you simply consider it from the fund side, take away 5 million US dollars from the broker, plus the cash in the account, you can basically achieve neither profit nor loss. But what is lost may be the decline in the market outlook and the substantial profits that follow.

  Even the amount was calculated so accurately, it was exactly 5 million US dollars. This is obviously a well-designed trap by the broker, based on the fund manager’s eagerness to close the position and stop the loss and the future copper price drop.

   "We will pay a deposit to maintain the ratio at 14%." After thinking about it, Carl decisively chose the first option. He originally considered the second option, but since even the brokers believe that the future copper price will fall, there is no reason for him not to hold the current position.

Jerry nodded, and then called the broker. Not long after, 1.5 million US dollars in cash was transferred to their account, making the margin reached 14%, and the total position value reached 15 million US dollars, which was temporarily exempted. The risk of being forcibly liquidated.

Just when this side was just finished, the door of the meeting room was suddenly pushed open with a bang, and the junior trader named William ignored the surprise of everyone here and shouted loudly: "It's not good, The LME inventory has been greatly reduced, just today!"

   "What? A substantial reduction?" The traders in the conference room were immediately dumbfounded, staring dumbfoundedly at William who was still panting outside the door.

Carl no longer cared about William, who violated the rules. He walked quickly to the door of the meeting room in three steps and asked loudly, "Do you understand what you are talking about? What is a significant reduction? Reduced How many?"

   "A total of 100,000 tons, accounting for a quarter of the entire inventory, and it's still a warehouse in London." William didn't talk nonsense, and poured out everything he knew.

   "One hundred thousand tons..." Karl felt his eyes go dark, and he almost passed out. What annoyed him was not the news that was obviously bullish for the copper futures market, but that the news was announced after they chose to continue holding the current position, which made their analysis and actions just now go to waste.

  LME’s stock of copper in global warehouses is only about 300,000 to 400,000 tons on weekdays, and the inventory announced some time ago has been increasing slowly, which also gave Karl a reason to short. But now, in just one day, the inventory has been reduced by 100,000 tons. How embarrassing is this for short sellers?

  Obviously, these contracts were not recently sold, at least they were contracts from three months ago, that is, someone took aim at this batch of spot copper in mid-August, and the copper price at that time was still hovering around $2,500. In other words, the party who sold this batch of spot copper earned at least 30 million US dollars.

  The most terrifying thing is that although the short side has made a lot of money, the news is not good news for the short side. First of all, even if the delivery party immediately pushes the spot copper to the market, the number of converted lots is only 4,000 lots, accounting for only 2.5% of the total number of transactions today, and its influence is extremely limited. Secondly, if there are such delivery-oriented bulls in the market again, short sellers will have to be careful about their positions. If they can't produce the corresponding cash copper at that time, big trouble will happen.

For the long side, this news is completely positive, because it is possible to deliver so much spot copper at one time, the biggest possibility is those metal dealers who have a large demand for spot copper, and only they can take out so much spot copper at one time. More cash for delivery. It is conceivable that since the demand for copper is so strong, there is no possibility of copper prices falling in the short term.

  Thinking of this, Carl shuddered. He turned his head slowly and looked at Jerry, who was also shocked. He saw the powerful assistant shook his head helplessly, and he immediately understood what Jerry meant.

   "Everyone, when the market opens tomorrow, we only have one goal, and that is to close all our positions in the shortest possible time!"

  …

  Almost at the same time, on the side of Sumitomo Corporation, traders also got the news that the LME warehouse had reduced 100,000 tons of spot copper. Yasuo Hamaka immediately called all the copper futures traders to the conference room and held an emergency meeting.

   "What's going on here? Can someone give an explanation?" Hamanaka Yasuo said angrily. As soon as he finished speaking, he saw the traders sitting on both sides staring at each other. You looked at me and I looked at you, with a completely ignorant expression, and the anger in Binzhong Tainan's heart became even stronger. a bit.

"Do you know? Gentlemen, the current copper futures market is no longer under our control. In other words, this is very likely to be a trap that has been laid long ago. If we are not long, it will be difficult to get out of it now. "After all, he is a master who has been fighting in the copper futures market for a long time. Binzhong Tainan saw Zhongshi's plan at a glance, so he would not believe that it was a construction company or a metal dealer who needed raw materials. delivery.

  Massive delivery on option exercise day, and still in the case of a large price increase, these set the tone for tomorrow's trading. Perhaps in the option market, the person who plays the game is also the biggest executor. Almost in the shortest period of time, Hamanaka Yasuo guessed Zhongshi's plan at all odds.

"Don't tell me why spot merchants need copper, it doesn't make sense at all. These can't explain why the timing is so coincidental, and they can't explain how there is such a large amount of spot copper delivery!" Bin Zhongtai said coldly Coldly shut the mouth of the trader who was about to defend himself, and continued to analyze extremely calmly: "If the guess is correct, they have set up this game for at least a month, and they have already obtained most of the profits in today's market, if not Guess wrong, they will leave the warehouse tomorrow."

   "What if they continue to do more?" Just as Hamanaka Yasuo was immersed in his own analysis, an untimely voice sounded, it was their ace analyst Yasuo Ryusuke.

   "Why?" Binzhong Tainan couldn't help being a little stunned, and asked subconsciously.

Long Jie Yasuo stood up, cleared his throat, and said very seriously: "During the session today, I found that besides us, there is another bull that is pulling up futures copper. I think I am not the only one who discovered this. However, according to my calculations, this long force only has a few thousand hands of funds at most, so this force is very likely to be the option executive.”

"Except for these new bulls, the party who made the large delivery today obviously has a long-term plan. But how do they know that the bullish option side overwhelmed the bearish side today? The biggest possibility is that they concocted this in order to stop losses. A delivery scene."

   "Why do you see it?" Binzhong Tainan frowned and asked a little puzzled.

"Amount of funds! This batch of spot copper needs at least 250 million U.S. dollars in cash. In addition, if there is a large bottom position, assuming there are 20,000 lots, at least 300 million U.S. dollars are needed. No less than 500 million U.S. dollars, accounts with such a scale can almost be counted on one hand."

   "According to what you're saying, today's delivery is just a means for them to hedge?" Hamanaka Tainan's frown deepened.

"Not necessarily, I think they have also estimated the rise. But if they want to start closing their positions tomorrow, the price will inevitably plummet. At that time, they will inevitably spit out part of their profits, and even this spot copper will lose part of it. Therefore, I conclude that tomorrow, they will use today's profit to push up the price of copper again." Speaking of this, Yasuo Ryusuke was 80% sure, and he looked around the audience, casting a very confident look.

  Almost everyone ignores the possibility that this batch of spot copper will be put on the market again, because it has nothing to do with the current discussion. After letting everyone digest it for a long time, Yasuo Ryusuke continued: "If my guess is correct, this fund comes from a hedge fund in the United States, and it is very likely that it is the hedge fund that crashed the Bank of England."

   "Therefore, in tomorrow's transaction, not only do we not have to close today's position, but we also need to unite with them to go long together, so as to raise the price of copper futures again."

   Thanks to book friend Red Golden Armored Knight for voting for the first monthly ticket of this month! At the same time, I would also like to thank the book friends who worked hard to sleep, and the monthly ticket support from the Zebra Center yesterday! The bleak February has passed, and the new March will continue to work hard. I look forward to your more attention, thank you~

  (end of this chapter)