The real sinister part of the devil's trade lies in this, and this level of loss is not much worse than losing your soul.

Many people, including some veteran birds who have been on the battlefield for a long time, do not know this, but still die in this trading mode in the end, because they ignore the risk that they need to buy stocks in the market for delivery on the settlement date of the transaction, that is, the exercise date.

Usually it is convenient to buy stocks, but if a stock is clearly in an uptrend and the market is consistent, most of the shareholders will not sell, hold on, and continue to wait for the upward attack.

Retail investors may not be able to hold it, but the United States stock market is dominated by institutions, and the trading data of options is open to the whole market, when the holding institutions find that there are a large number of sell calls piled up on the trading platform (I don't know the specific situation of the holder, but you can see the changes and cumulative number of transactions, such as how many short orders are piled up on a certain stock).

At this moment, institutions will not only not sell, but will spend more money to sweep the secondary market, and Carl Wright rushed to buy stocks, so that the price of the stock will be pushed higher and higher, and the stock price will rise tenfold in two or three trading days.

At this time, Carl Wright was left to be slaughtered.

Because he had to finish the delivery on the delivery date, and in order to complete the delivery, he had to go to the secondary market to buy the shares, and his enemies knew this, and they would do whatever it took to push up the stock price, thereby making money from Carl Wright's corpse.

This process is called "short squeeze", or more primitive point "short squeeze".

The worst case scenario when going long is that the stock is delisted and the principal is lost;

And when shorting against the trend, you never know how much you're going to pay to keep your principal.

This is why shorting is said to be "limited gains, unlimited risks", so usually only institutions and large investors can participate in large-scale shorting, usually referring to naked short-selling - purely speculative shorting.

Edward has a bit of common sense about this, and he has the impression that in his previous life, a bald head relied on insider information on the SH Stock Exchange to "grab hats", and this hand was very slippery......

frequently adopted the method of "squeezing short" and cutting leeks wildly, but to be fair, at that time, he was ordered by the master of the gun to use the stock market to earn revolutionary funds, and those shorts who were crushed to death can be regarded as contributing to the revolution.

The short-squeeze record is remarkable, and the profit once reached more than 20 yuan, and almost a little earlier, the monthly salary of a librarian at Peking University was only 8 yuan...... It can be seen that once you master this hand, it is almost the same as opening a banknote printing factory.

It's just that although he has no hair, he hasn't become stronger, bald and leeks are not contradictory, and the next wave lost 60w, so he had to hand over the golden hemp skin to the protégé and beg him to help with the peace.

……

Talking about Wall Street, when Carl Wright is shorted, the brokerage he opens an account will monitor Carl Wright's positions and contracts at any time in market fluctuations, and once it is found that the volatility has increased the risk, it will immediately call Carl Wright to ask for additional margin in the account immediately, and if there is no money, then it will immediately trigger forced liquidation.

The broker bypasses Carl Wright and closes the position with one click, and the margin in his account will be used to cover the loss on the contract.

That is why, a lot of speculators went from millionaires to vagabonds overnight, or directly from the high mouth

After the liquidation is triggered, the broker will rush to Carl Wright's house with Pinkerton detectives and an accountant appraiser to count the amount of furniture and the house, and usually Carl Wright will only be allowed to leave in a set of usual clothes......

At that time, perhaps jumping into the air was the best relief.

Today, Edward summoned all the smart people, they are the elite of this society, and their intelligence level is far above average.

But around the way, Carl Wright talked about how to short through options for three hours, even talking about it, and using himself and various acquaintances as examples, so that everyone could barely understand.

Edward is the easiest one, he is responsible for formulating the overall strategy, as long as he knows that he can squeeze the air, and he also trusts Carl Wright, Hansen patted his chest before, promised: Don't look at what this kid likes to be men, but he is really a man, when facing the "Daley Bulldozer" in Chicago, he didn't bring any protective gear, and rushed up with a baton, pulling the injured Hansen to the side of the road, and took several sticks on his back, without saying a word.

Finally, in order to ensure that everyone has a correct grasp of option theory, Carl Wright also conducted a small quiz - this is important because once everyone's money is invested, the representatives of all parties are responsible for their own money, if they can't even understand the basic trading direction......

Don't ask, there will definitely be infighting, which is the main reason why the Red Necks, despite all kinds of dissatisfaction with the civil rights movement, never dared to attack Wall Street, and they also knew that they would die if they went in, and it was the kind of extremely humiliating way of death.

Edward felt sorry for the Rednecks, believing that the South should bring in Jews in large numbers, so that perhaps in a few generations, the intelligence of the Rednecks would be significantly higher, instead of being the hindrance of the nations.

The results of the quiz were unexpected, and the fastest to complete it turned out to be Beth Harmon......

She arrived suddenly, and shortly after Carl Wright's training began, there was another knock on the door, and as soon as Edward opened the door, he saw a man with pale blonde hair and fawn-like eyes: "I'm a little tired of staying in Kentucky, and I want to see the world in New York, but my money is used to buy a house, you know, so, I can't afford to live in a hotel...... You can let me do anything if you want......"

Edward's face was full of black lines, because the eyes of the women in the room suddenly turned to him—in fact, this was one of the reasons why everyone listened to the lecture so poorly—and they whispered to each other, wondering how this girl had been tricked by some bastard.

Meghan was even more angry, she had seen Ruthberg, and when she raised her eyes and saw Beth Harmon's face, her eyes suddenly burst into flames, "This bastard is really a woman who likes red hair and light brown eyes!" Elena, don't fight with me, we naturally lose in hair color! ”

As Edward passed by her, she took the opportunity to twist the soft flesh around his waist hard......

Edward had intended to lead her directly to the guest bedroom on the second floor, and he trusted Beth Harmon, but with common sense guess, how could anyone be interested in the tedious and boring theory of options investing?

But as soon as she saw the pile of formulas, she immediately became interested and asked to audit, and Edward naturally agreed to the request of the would-be harem.

Unexpectedly, after the quiz in the classroom, Beth Harmon showed absolute crushing.

Chess is indeed an IQ filter.

Now Megan is also depressed, she is very smart, but after all, she is a cheerleader, not a scholar, she can eat with her face and body, why use her brain? This is also the traditional way of thinking and doing things of American girls.

Now everyone is convinced.

Beth Harmon not only knows the definition well, but also understands the cumbersome option pricing model at a glance.

Options traders have a nickname in the market, called "Greeks", because the variables that affect the price of an option are represented in Greek letters, and with the exception of alpha and beta (which are used as codes for the market's common risk), a combination of a dozen variables can roughly calculate the reasonable pricing of the option and make complex hedging transactions accordingly.

Dealing with similar problems on Wall Street, small companies buy dedicated programmable calculators, and giants simply use minicomputers-terminals to solve them.

Beth Harmon didn't see her typing the draft, she just read and wrote at the same time, even faster than Carl Wright used a calculator, and the answers were exactly the same!

Human flesh calculator, ah, this is!

"Aren't you going to Moscow to compete in order to earn yourself some money?" Edward suggested.

"Aha, Beth, I'm Megan, are you short of money, why don't you go to the fake news show, you are the national champion, and you are so beautiful, the ratings will definitely go up, and our remuneration is very generous" Megan began to poach on the spot.

Regardless of thirty-seven twenty-one, it's always good to please Edward first, since this girl is short of money, then send him money?

"Beth, I can make a pledge on behalf of Rep. David Hill to help you raise a money for your trip, New Yorkers have always loved wisdom and the ...... of this country" Elena was naturally not to be outdone, but when she learned that Beth Harmon was covered by Senator Mark Curlow, she could only pout and give up.

If your boss is a Republican congressman, he naturally can't be a Republican senator.

Edward scratched his head: "So, is Beth interested in joining, I can give you a very good salary"

"As I said, I can't afford to stay in a hotel, so I can only stay with you, so you can let me do whatever I can...... But I think my role should be more than just helping this figure out the formulas......"

Edward was about to faint, did this girl have a brain problem and didn't do anything?

……

"Damn, be honest, did you ever sleep with her?!" During the lunch break, while eating takeaway pizza, Megan asked quietly viciously.

Elena immediately leaned in, and Celerial and Alicia were not so close to him, and were embarrassed to be too gossipy, but they also slowed down their chewing speed - so that they could concentrate and prick up their ears to listen. 、

"Nope!" Edward shouted injustice again and again!

"I don't believe it!" Yelena said

"Damn, you lied to me, I remember you went to Lexington a while ago and spent the night there!" Megan was furious, "You can sleep with other women, but you can't lie to me!" ”

Edward begged for mercy: "I did sleep with her!" ”

Megan: "Damn it, FXXK, you actually slept!" ”

Edward found that Megan's face was distorted when he said this, but he didn't know why, he suddenly felt that the other party's expression and lines were very familiar, uh, by the way, in "Crazy Stone", Brother Dao treated Xie Xiaomeng like this.

But this is the United States, the relationship between men and women is open, and the man is unmarried and the woman is not married, and the two are not intimate, Meghan is also ruthless, in fact, she is more gossipy......

Good sister Elena is in the same breath with her at the moment: "Do you mean we are not enough? ”

Meghan: "You still have Rustberg!" ”

Elena: "It seems that I am usually too polite to you, so seven times next time!" ”

Megan: "Hey, Elena, let's just go along next time, I know you don't like me at school, and I'm not convinced that I've always been able to date sports stars......"

Elena: "Hehe, you still care about those things, it seems that you don't mind that part of the school past?" Frankly, I don't think so, I've always thought of you as a good sister? ”

"Let Hou sleep with my boyfriend while I'm away?" Meghan sneered.

"It's the one who was raised by Bichi to hook up with me, and I always have a good impression of men who can appreciate my charm! You know! ”

I saw that the topic began to slide in strange directions......

Edward's forehead was bruised: "It's not what you think, her adoptive mother just died at that time, and I went to help...... Do you think I'm the kind of person who takes advantage of others? ”

Megan and Elena looked at each other, then nodded in unison, "Don't forget, how did you get us into bed!" You nymphomaniac......"

Edward vomited blood, and he felt that his old waist was going to be unlucky.

Flick the Hawaiian pizza in your hand into the box and defend yourself.

"You think too much......" A voice sounded from behind him, and at this moment Edward was sitting on the sofa, Meghan and Elena were on either side, and they were firing their bows left and right to extract confessions, which startled all three of them.

Hurriedly turned his head, only to see Beth Harmon holding a cigarette and said lightly.

"Do you want one?" She took out a pack of thousands of cigarettes, shook her hand, and two cigarettes jumped out of the cigarette case, seeing that this gesture was definitely an old smoking gun......

But strangely, the smell of smoke on her body was very small.

Edward was very sure of this, after all, the two of them had "slept" for one night......

Yelena and Megan were also not polite, one for each person, and each took out a lighter and lit it.

This is a bitter person, he has never had a good impression of the little white stick, and he has to frown when others smoke in front of him, but now that the three women who have slept with him are swallowing the clouds, he is embarrassed to shake his face.

After all, everyone has some real feelings, but it's a pity that English can't express the great meaning of the word "long-term affection".

These three are also old smokers, and after the green smoke curls, the atmosphere between the three of them seems to be more harmonious.

"I'm so grateful to Ed, I don't know how I would have spent those days without him." Beth Harmon said very blandly, "My agent and adoptive mother died suddenly in Mexico City, and I lost to Petrosyan's piece of granite, and finally came home, and my adoptive father, who had only been in contact with me for a month at most, wanted to take the house from me, and then two magic sticks jumped out and asked me to make a public anti-Soviet declaration before agreeing to sponsor me to play in Moscow......"

"God......" Meghan covered her mouth, her face full of surprise.

Elena was calmer than she was, but there was a sympathetic look in her eyes.

Beth Harmon's tone was light, but she didn't deliberately lower her voice, and at this moment, Celerie and Alicia also heard it.

"Ed is half Chinese, it was 2/16, which happens to be the most important holiday for the Chinese, roughly equivalent to our Christmas Eve, I called him, and he showed up in Lexington the next day to help me get rid of my disgusting ex-adoptive father and god stick."

"Ex-adoptive father?" Celeri asked

"Yes, don't forget, what is Ed best at...... Beth Harmon chuckled "thanks to him that day, to be honest, I would have been able to handle it if he wasn't there, but he could have had a serious mental breakdown afterwards." Maybe you need to adjust your mindset through LSD. Thank God his presence allowed me to avoid this outcome. ”

Beth Harmon took a deep puff of her cigarette, "At least for now, I'm normal, half a pound of vodka and a little prescription sedation will put me at ease." Only a Level 4 controlled drug can complete the effect of a Level 1 controlled drug, really, because of his ...... ...... that night"