There is no doubt about Lu Zhaolin and Cecil's professionalism, but these are not what Chen Qiaoshan cares about the most.

After all, a senior trader is just a trader, whether it is a veteran of market making or a recent intern, what he does is an errand to get money, and in the final analysis, it is just a job.

Chen Qiaoshan values professional ability, but he needs these people to be obedient enough at critical moments.

Although he has no trading experience, his grasp of the current market node is far better than others, which is Chen Qiaoshan's advantage, and it is not comparable to market sensitivity and experience.

If he seeks stability, Chen Qiaoshan can continue to make options.

There is no shortage of opponents in the crude oil market, and even at the moment, the total number of call options for US oil TI is still as high as 100 million barrels, which has not cooled down at all because oil prices have broken through highs continuously.

People are ambitious, and Chen Qiaoshan is no exception.

Compared with crude oil futures, the risk of options is undoubtedly much lower, not only can lock up losses, but theoretically can also infinitely amplify the income, but there must be gains and losses, compared with futures, the leverage advantage of options is not obvious, the operability is not high, and the income is relatively low.

Nowadays, as long as you are bold enough, the funds can be magnified 100 to 400 times, any fluctuation, you can go between heaven and hell, but no one is a fool, the basic risk control awareness is still to have, most of the high leverage concentrated in the foreign exchange market, until 2010, the United States took the lead in deleveraging, the leverage ratio has been reduced, but even so, it is not comparable to options.

High risk and high return, since he has enough capital, Chen Qiaoshan does not want to let go of this opportunity, he said: "Everyone is busy all day long, after all, it is still to make money, since the two of you are here, you might as well listen to the situation." ”

In the capital market, everything has a price, even currency cannot be an exception, let alone people.

Lu Zhaolin and Cecil exchanged a look, but finally did not say anything more.

Chen Qiaoshan glanced at Elliot, who understood, took out two documents and said: "This is a confidentiality agreement, and everyone understands the rules, so I don't need to say more." ”

No matter what kind of trading, it is basic common sense that you should never easily expose your position.

Lu Zhaolin and Cecil were not surprised, carefully went through the terms of the agreement, and saw that there was no problem, so they signed it.

Elliot took back the signed documents, and then began to introduce: "Chen is my client and a customer of UBS, so you can rest assured that we have prepared 17 million this time."

Cecil, who had been silent, suddenly interjected, "HKD?"

"USD!" Chen Qiaoshan was a little annoyed, obviously, he was underestimated, and now the US dollar is around 7.8 against the Hong Kong dollar, which is nearly 8 times different, and the amount of funds in and out is far away.

Cecil and Lu Zhaolin are both stunned, they are indeed senior traders, and the liquidity in their hands is basically more than eight figures every day, but institutional market making and private speculation are different, the former is basically hedging the risk of net positions, while the latter is unilateral speculation, and the risk in the middle is not a star and a half.

Crude oil has risen to a high level in the past 20 years, the current price fluctuates a lot, at this time, the risk is undoubtedly very large, even if the leverage is controlled at a low level, with a margin of 5%, a position also needs 2700 US dollars, and the whole position is nearly 5500 hands, which is not a small number.

Although oil is the king of black gold, in the eyes of insiders, no matter how big the plate is, the price is also manipulated.

Because of the soaring prices, in order to reduce the accusation of high oil prices, not long ago Saudi Arabia announced a daily increase in production of 2 million barrels, although Saudi Arabia does not represent OPEC, but as the world's largest oil producer, the symbolic significance of the increase is obvious.

It was under this huge negative situation that the oil futures traded on the New York Mercantile Exchange suddenly soared by more than 77,000 orders, and oil prices soared in response, causing a group of bears to collapse, and there were not a few speculative failures.

If you are a little more extreme and bold enough, with a 100-fold leverage, the cost of this production increase is only 50 million US dollars, but the harvest is sky-high, and such capital speculation is very common.

Even though they were used to seeing wind and waves, Cecil and Lu Zhaolin were still quite cautious.

The high risk of unilateral speculation, the huge amount of money of 17 million, and the young boss, the combination of so many conditions will inevitably make people suspicious.

The trader's task is not simply to help clients with the purchase and sale of contracts, but also to monitor risk and provide correct feedback to the market.

It is true that you want to make money, but money is not so easy to make, and it is necessary to consider market risks.

Cecil asked, "Chan, can you tell us about your plan?"

"It's Chen, not Chan. Chen Qiaoshan corrected with a smile.

"I'm sorry. Cecil's face softened, but he was very unimpressed, for he knew why these Oriental surnames were so strange.

A small episode made the atmosphere in the venue a little lighter.

Chen Qiaoshan said: "My plan is very simple, the price of crude oil has skyrocketed in the short term, which has seriously deviated from the normal track, and I think the current market has reached a high level, and there is a possibility of returning to normal value in the near future." ”

"Chen, value investing doesn't make sense at all in commodity trading, it's a speculative market, and there's no rationality at all. Lu Zhaolin couldn't help but remind, he actually wanted to complain, the theory of value is not worth anything at all.

When crude oil rose to $40 per barrel, some people commented that the price deviated from the actual value, but so what, it did not rise to $54, and most of today's crude oil share is non-commercial positions, coupled with the existence of reverse spreads between futures months, speculation has occupied the absolute main force.

"But oil is just a commodity. Chen Qiaoshan found a very lame reason, he didn't care what a few people thought, and said lightly: "I'm not optimistic about the next trend of the market." ”

Short?

Lu Zhaolin and Cecil glanced at each other, and they both had a look of understanding on their faces.

Although the market is still frenzied, the absolute net value of long positions is shrinking, although the amplitude is not obvious, but this is enough to show that market volatility has begun to form.

"As for commissions, $300,000 per person plus 0.5% performance commission, what do you think?" Chen Qiaoshan didn't bother to argue with professionals about the trend of the market, so he simply offered a price.

Lu Zhaolin and Cecil looked a little weird, and Elliot also realized that something was wrong, which was completely different from the previous discussion between the two.

Privately taking on private work, the fixed commission is generally very low, basically equivalent to the signing fee, it is better than nothing, it is all based on performance commissions to make money, Chen Qiaoshan directly did the opposite, raised the fixed commission to a sky-high price, but greatly reduced the commission.

Several people were smart people, and they quickly figured out Chen Qiaoshan's intentions, but they were very disapprehensive in their hearts.

According to the market situation, it is necessary to achieve more than 20 million US dollars in income in order to reach the commission level offered by Chen Qiaoshan, but the price is not straight up and down, unless OPEC suddenly increases production on a large scale, oil prices are likely to plummet, but this is obviously impossible, because the global production capacity has been exhausted, there is no possibility of large-scale production increase, the plunge only exists in theory, and the difficulty of finding the opportunity can be imagined.

Cecil and Lu Zhaolin couldn't help but look at each other, the boss in front of them was too generous.

Chen Qiaoshan saw everything in his eyes, and he asked with a smile, "What, you have different opinions?"

A generous guaranteed salary was in front of them, and a smile appeared on the faces of Cecil and Lu Zhaolin, no one would refuse this kind of list without performance pressure.

Cecil stood up and stretched out his hand and said, "Chen, it's an honor to serve you. Lu Zhaolin also followed and stood up.

"Happy working together!"

………

The faces of the three of them were full of smiles for a while, but Cecil and Lu Zhaolin were a little complacent, as if they had picked up a big bargain.

Chen Qiaoshan smiled the most sincerely, saving a lot of expenses on commissions, how could he not be happy, although he was a little childish, but earning an extra point is a point, after all, the landlord's grain is also collected by a penny.