Not to mention the turbulent undercurrent after the reactions of all parties after Zhong Shi's remarks, just in the natural gas market, it first set off a wave of small-scale waves.

Soon after the traders widened the spread between the 0703 and 0704 contracts, the traders of the base fund made a brazen move, and forcibly restored the market price to what they thought was a normal fluctuation range, which was the first time that the base fund made a move, and in order to eliminate the unfavorable remarks brought about by Zhong Shi's remarks, they had to violate their consistent investment strategy and actively choose to take over in the market.

After realizing that there was a force in the market that was fighting their narrowing spreads, it quickly became clear to the natural gas traders that this was the institution behind the takeover of the Withering Fund. Naturally, with their individual ability, they can't compete with such an institution, and what they have to wait for and hope to see is naturally the contest between the side represented by Zhongshi and this institution, which represents their opportunity to fish in troubled waters.

Even within some institutions, traders are still betting on who wins and who loses in the end, they have set various indicators such as the target price, the price at which the two sides finally close their positions, and the final closing price in these two months, and have opened different handicaps, and even good people have established a number jù model specifically for the gambling game in their free time, deducing the approximate odds, and for a time this gamble was widely circulated among natural gas traders, and many elite traders on Wall Street were happy to do so.

In a sense, investing is indeed a gamble, but of course it is not the same as gambling in the traditional sense. After a well-analyzed and logically verified investment, the probability of achieving high returns is much higher than the probability of gambling. Many traders are regulars in Las Vegas and Atlantic casinos, and they are immersed in the very gambling capital markets, so gambling is a way for them to spend time with each other.

It's just that they waited for several trading days, and they didn't notice the other side of the market to make a move. This made them not only interested, but also a little curious, what kind of trick was the other party playing?

In late October, Bell Stone, who flew back to New York from South Africa, began to lay out, preparing to close its position in the market, after the collapse of the Withered Fund. This period of time is enough for the institution to digest this part of the position. In addition, this part of the income should be in the pocket.

"The price of 0703 is $6.84, and the price of 0704 is $5.79, and the spread between the two sides is $1.05. This is an increase of almost $0.3 from the lowest level. I believe that if you calculate it with a position of 100,000 lots. The other party made at least $300 million in profits. ”

In front of the keyboard, Jiang Shan pointed to the constantly beating number analysis to Zhong Shi, and Hu Ping also stood aside. He looked at the screen calmly and was silent.

"If we properly release a part of the profit to the other party, will it speed up our liquidation? If so, what would be the spread that would be acceptable for both us and them? Zhong Shi thought about it for a while, and then asked in a flat tone.

Hearing Zhong Shi's words, Hu Ping's brows involuntarily shrugged.

When the price of the natural gas position fell to its lowest level in these two months, the floating profit of the position established by Bell Stone exceeded $3 billion, accounting for half of the loss of the Withering Fund. Even after selling a portion of the position, the floating profit was still close to $1.8 billion, and the profit that was turned into cash was as high as $1 billion.

Even based on current profits, Hu Ping and his team can get a dividend of $120 million, which is enough to shock the entire Wall Street. But in fact, Hu Ping is not satisfied, who would be afraid of having more money?

So when he heard that Zhong Shi intended to return part of the profits to the other party, he was faintly dissatisfied in his heart. However, in the case of operating funds from the other party, the market is also picked out by the other party, and even at some critical moments, the other party is breaking the point, he really can't say anything, so he can only comfort himself secretly in his heart, and said lightly: "This is naturally possible, but the problem is that at the specific price, if you can't reach a tacit understanding with them, maybe the other party will take the opportunity to attack." ”

After pondering for a moment, he felt that his intention not to close the position was too obvious, and added, "But there is another advantage, that is, if we give in and the people in the same camp as us are unwilling, they will take over our positions in due course and continue to entangle with the other party in this market, in this case, the speed of our closing may increase by a few points." ”

Zhong Shi glanced at Hu Ping deeply, did not speak, and after pondering for a long time, he decisively ordered: "Close the position, first raise the spread to $1.15, and see how the other party reacts." ”

Since a large number of positions are closed in a short period of time, it will lead to violent fluctuations in prices, especially in the case of the main capital dispatch. So a $0.10 spread may take a certain amount of time and money for small and medium-sized institutions, but for Bell Stone's team, just a little bit of it is enough to get the spread to go where they want.

Soon, a large number of liquidation orders appeared on the market, and the price of natural gas naturally rose, quickly began to fluctuate on the two-month contract, and soon rose to the predetermined position. The violent volatility caught the market off guard, and traders in the market were asking what had happened in less than a minute.

"Are they going to start?"

In the base camp fund, Kenneth. Griffin was staring at the market, the violent fluctuations just now did not escape his eyes, and after carefully calculating the number of transactions just now, he concluded that the other party must be a large institution, and it is very likely that it is Zhongshi who claimed on TV that he sniped the Unwilted Fund.

"$1.15, a profit of more than $60 million at once, which is really a big deal!" After carefully calculating the amount of the transaction just now, even Griffin, who was in charge of tens of billions, was shocked by the "generosity" of the other party. "But this amount of money just wants to satisfy me, don't you look down on me too much?" After the initial shock, a chuckle appeared on Griffin's lips, clearly dissatisfied with the amount.

Come to think of it, in order to buy the position of the Withering Fund, the base camp borrowed a full $1 billion in loans, which were collateralized by their portfolios, so the cost was quite large, and by now, they have made at least about $180 million. So relative to this part of the profit that Zhongshi ceded. Naturally, he didn't see it.

However, at present, since the other party has released goodwill, and it is only the first time, there is still a lot of room for negotiation below, Griffin naturally will not be in a hurry to reply so quickly. At this time, he sat firmly on the Diaoyutai platform. Just wait calmly for the other party's next move.

Who doesn't want him to sit down yet. I saw another wave of fierce liquidation in the market, and unlike the wave just now, traders in the market have been fully prepared. So even if there were a lot of closing orders in a short period of time, the traders quickly took them, and the two-month spread rose to $1.19.

"Wow, $100 million in concessions, that's so generous!" Seeing that the other party was so breathless, Griffin became more and more proud, and this time he could more and more understand the psychology of the other party's eagerness to close the position.

But at the other end, Zhong Shi and his team were confused, because the wave of liquidation in the market was not initiated by them, in fact, they just sent a wave of signals, and the second wave of signals had nothing to do with them at all.

After a short silence, Jiang Shan suddenly shouted, "I understand, there must be other institutions in the market, after seeing us close the position, I am afraid that I will not be able to fight the other party by my own strength, or I feel that I should also be in the pocket, so I want to close this part of the position before us, yes, it should be like this." ”

Jiang Shan's words made everyone's eyes light up, they thought about it carefully, and felt that this was the truth, and when they looked at Zhong Shi again, everyone's eyes were a little more inexplicable.

Now there are two ways in front of Zhong Shi and others, the first is to continue to close the position, and fight a price war with another institution that wants to close the position. The second is that if you don't close the position, you can only watch the other party close the position, and you will face more uncertainty later.

"No, there must be another way out!"

Zhong Shi frowned and thought about it for a long time, feeling that neither path was suitable for him, but apart from these two roads, there was no third way to go, so Zhong Shi was very unwilling. After thinking about it for a long time, he suddenly realized that there was indeed another way to go.

It is not accurate to say that it is another way, because this method is derived from the first way. That is, since Zhong Shi wants to close the position, he also wants to make the opponent unsatisfactory, and use guò to fight a price war to compress the profit margin of the other party, so that he has to follow his own footsteps to close the position.

Of course, this approach does not work for everyone, only the dominant institutions in the market and are not afraid of losses dare to do so. Because after all, the two sides close the position in order to pocket the profits obtained in the early stage, but if the big institution is annoyed and would rather fight for losses than let the other party get profits, then the institution that wants to close the position first will have to think twice.

"$1.3, let them see how good we are!"

After thinking about it, Zhong Shi swept away his depression and gave instructions to the trader arrogantly. This order made the traders stunned, but they were finally professional people, and after a slight delay, they did not hesitate to throw the corresponding closing order in the market, and began to frantically increase the spread between the two months.

Soon, under the impact of the frenzied closing order, the price difference between the 0703 and 0704 contracts broke through $1.2, and then continued to rise without any stop, and the price of 1.25 bad luck was quickly broken, and it rushed to the $1.3 position in one breath before stopping.

"What the hell is going on?" Traders in the market are almost crazy, although they know that there are big institutions closing positions, but each time they only throw hundreds of lots, raising the spread by only a few tenths of a tenth, and now thousands of closing orders are pouring into the market, directly raising the two-month spread to an exaggerated level, which makes them dumbfounded.

It was not only the traders in the market who were dumbfounded, but even the people behind the scenes who were rushing to close the positions with Zhong Shi were also dumbfounded. Arnold couldn't say a word for a long time, but after thinking of Zhong Shi's intentions, he immediately became angry again, and he directly threw the pen in his hand to the ground.

"Damn, this guy relies on his wealth and power, and he actually wants to sell us to the other party, oh my God, this kind of behavior that harms others and is not beneficial to himself, only such a guy can do it!"

Anger turned to anger, but Arnold, who came back to his senses, felt very helpless, because just by giving away all the profits to his opponent, Zhong Shi would not have the slightest net worth, but he was far from being able to do this, because most of the money he took care of was still other people's funds.

At this moment, he realized the "savagery" of the other party! (To be continued......)