On Wednesday, September 22, the November crude oil futures index opened with a gap and after a fluctuating decline, it fell all the way below the $18.00 mark.

This is also in the market's expectation, after there is no risk of shorting, the bears began to exert force after the retreat in October, and in one fell swoop, the bulls set up a line of defense at the $18.00 position.

"Zhang Sheng, shouldn't we make a move?" Zhong Shi looked at the plate and asked a little uncertainly. After looking at the plate for so long, he still doesn't know much about the meaning behind the constantly changing numbers.

"Zhong Sheng, do you really want to make a move? You must know that if all positions are opened, every time the price of crude oil rises by one level, we will lose millions of dollars! Zhang Jiaqiang said worriedly. With Zhongshi's current funds, a position of no more than 100,000 lots can be opened with full calculation, and the minimum price of WTI contract change is 0.01 US dollars, which is 1 million US dollars in cash.

"Enter! Don't be afraid, I'm responsible for the loss anyway, and you don't have any responsibility. Zhong Shi said confidently. He is a layman after all, and he does not know some of the rules of the trading team. If a trading team loses a huge amount of money from a customer, the reputation of the whole team will be over after the matter spreads, and there will be no customers with large funds to find such a team in the future.

"Alright then!" Zhang Jiaqiang replied helplessly. In the final analysis, he still has to listen to the customer, even if they cause a huge loss, the customer's idea in front of him is the highest holy decree, which is also one of their professional ethics. "Everyone is in place, and everyone is assigned their own account and authority. Be prepared to open a position, listen carefully to the quotation of the quote, and be ready to short WTI ...... at any time"

For this operation, HSBC has also prepared several accounts, which have been distributed by Zhang Jiaqiang and put them into the hands of each trader one by one. These accounts also have a limit on the maximum position, and Zhang Jiaqiang has taken into account the ability and reaction speed of each trader when allocating.

After hearing Zhang Jiaqiang's order, the traders in his team sat down in front of the computer, staring closely at the constantly changing numbers on the board, thinking about the upcoming battle. Moreover. Facing the keypad, he began to move his wrist. Warm up for the upcoming opening of positions.

At this point, the difference between the individual traders is different, the experienced traders have been quickly typing out the embedded orders at different price points on the keyboard, while some others are still ready to go.

The embedded order is a buy and sell order that has been hung in advance but has not yet been issued, which is a means of prevention in the face of drastic changes in the market. Because in the futures market, you can find a sharp rise and fall at any time. If you don't prepare beforehand. It is likely that the opportunity will be lost in an instant.

"Today's goal is to take the buy order they threw when the short position is closed, in addition. When the bulls are counterattacking, take their sell orders. It should be noted that the number of hands we open a position does not necessarily need to be more, but it must be fast, so that others can not find out about our existence, understand? Zhang Jiaqiang's face was straight and he said seriously.

It is simply impossible for large sums of money to rush into the market without attracting the attention of all parties. It's like using Zhongshi's current funds to build a contract of 100,000 lots in one day, which is simply a fantasy. It is estimated that when he opens a position, the oil index contract may be hit several price points at once, and then all the bears in the market will rush to change hands to close the position, which is a great opportunity for them to change hands in the opposite direction, a group of undetermined bulls may also close their positions, and another group of bulls may grit their teeth and insist. After the opening of this batch of funds, the original short position that changed the short position is very likely to go long backhand, and attack Zhong Shi's funds together with the original remaining longs, and he is likely to be the largest short in the market at that time.

"Quoter begins!" Seeing that everyone was almost ready, Zhang Jiaqiang glanced at Zhong Shi, and when he saw Zhong Shi nodding, he opened his mouth and shouted loudly.

In the process of buying and selling contracts, traders need to pay full attention to the current month's contract, but crude oil futures are somewhat different, in addition to the current main contract, there is also quite active money in December, which is determined by the design of crude oil futures contracts.

In later generations, crude oil futures contracts can be as long as nine years, and in addition to being traded on each month of the first six years, the other three years are concentrated in June and December. Because of this, U.S. crude oil contracts were also active in June and December.

The "CONX, CONZ......" quotation immediately quoted the real-time price, and the main contract and the forward contract were discounted to each other, which shows that the market is still optimistic about the forward oil futures. CONX is the oil index code for November, and CONZ is the code for December. It's just that the difference between the two months is too close, and even if the market sentiment is optimistic, there is still room for arbitrage in the short term.

"At the $18.00 position, open a new position, sweep away the short swap and long open at this price, and the speed should be fast." As soon as the quotation clerk said the offer, Zhang Jiaqiang immediately gave an order. As his voice rang out, the crackling keyboard sounded one after another.

The order soon appeared on the disk, and after more than ten seconds of matchmaking, the order on the disk at the price of 18.00 was swept away, and the oil price fell in response, falling to the position of $17.99 in an instant.

"Stop, remove all the unfilled orders, and wait for the bulls to counterattack." The price changed slightly, and the quotation man's voice immediately sounded, followed by Zhang Jiaqiang's voice, followed by a crackling keyboard.

Zhang Jiaqiang's strategy is to quietly absorb short orders when the long and short sides are fighting, after all, $18.00 is an important psychological threshold, and both the long and short sides are unwilling to give up easily.

Now the price at $18.00 is mostly moving some followers, and the main funds have not yet appeared. Zhang Jiaqiang knows very well that above and below this price, there are defensive lines set up by both long and short sides, which cannot be easily touched. Otherwise, when a large amount of money appears at these prices, it is easy for both long and short sides to see that there is another amount of money entering the market. At that time, both sides may take the opportunity to exert their strength and turn the oil finger in their favor.

If Zhang Jiaqiang rashly throws a big move now and touches the line of defense set by the bulls, the bears will definitely take advantage of this to exert force and put the oil finger at the next price. But in this way, it is not so easy for Zhang Jiaqiang to open a position in this regard, and vice versa, the bulls will change the direction of the market, and Zhang Jiaqiang may become the only bullish opponent to follow the trend.

It's clear that both sides of the market don't understand what this is all about. How did the order for the $18.00 position be swept away all of a sudden. However, the bulls who reacted quickly reacted and placed 347 buy orders at $17.98, which swept away the newly formed bearish follower, and then the price of the oil index rushed to $17.99. After a short pause, it rushed up to $18.00 again.

Back on the 18.00 price chart. 241 contracts are pegged at the bid price of 18.00. The selling price is a 102-lot order, and it seems that it will soon rush to the next price again. But at this time, a short contract of 300 lots suddenly appeared in the market. Sweep away the short closed orders and the newly opened long orders at once.

What's going on? Both the bulls and the bears are confused, the bulls are suspicious that the bears have lowered the price of the defense, and the bears are suspecting that the bulls are constantly changing and luring the bears to come and take the initiative to attack.

After a short stay, the bears were the first to hold back, and launched an attack first, throwing 1500 short orders at the 18.00 position, most of which were newly opened, as the first batch of tentative funds to ask for directions.

The traders on Zhongshi's side reacted quickly, opening new positions one after another to take these short positions next, but their price was strictly controlled at the 18.00 position, so the tentative bears were not willing to change hands at all. The bulls, after a slight resistance, allowed the price of the oil index to fall.

"18.00, 17.99, 17.98......" fell two prices in a row, and there was still no mysterious fund, and the bulls finally stopped observing and prepared to accept this short order. At this time, Zhang Jiaqiang's team made a move, and they were also waiting for this time, and there was no deal at the $18.00 position, and then opened a new position at the $17.98 position.

1500 hands of short orders, 314 hands were traded at the above price, only 805 hands were absorbed in the hands of Zhang Jiaqiang, and the rest were counterattacked by the bulls, and then the bulls began to exert their strength, throwing out 2000 hands of long orders, pulling the price back to $18.00, and there is Jiashi who continues to attack.

The bulls see that this is another short in the market quietly absorbing positions, and the amount of funds is not small. The bears also understood after seeing the huge number of short turnovers, but what they didn't understand was that how could this group of bears want to take short orders at such a low price, did they want to suppress the bulls by themselves?

This confusion in their thinking is exactly what Zhang Jiaqiang is trapping, and among the operational strategies developed by his team, this kind of virtual and real operation is the best strategy to absorb positions.

However, the bulls soon seized the point that the bears did not understand each other, and continued to throw out large buy orders, and the price soon broke through the key prices such as 18.10, 18.20, 18.30, etc., and the confusion of the bears for a while also caught them off guard in the market, and they retreated one after another, and finally encountered a strong line of defense at the position of 18.40, at this point in time, Zhang Jiaqiang's funds also appropriately joined the market, and finally fixed the highest oil price of the day at 18.45.

With the addition of Zhongshi funds, the bears pushed the bulls back to the position of 18.05 in one fell swoop, and the two sides reached a tacit understanding on this price. The trading volume also fell, and the next market was a small transaction of one or twenty lots, which completely became a junk market.

On this day, Zhang's team opened a total of 5,410 short positions at an average price of $18.20, costing $8.115 million. (To be continued......)

PS: Special thanks to book friends Demon Dragon Battle Ghost, Lingcu, 19770425, rexjue, Extreme Temptation 11, james_xu monthly pass support! And thanks for the tip that made me think about it! The fluffy bear sent by xiexie Shihuangtian~~ At the end of the month, the author decided to refuel and give a few more chapters, I hope everyone will also work hard and vote for a few more monthly tickets to support it~xiexie~