Elliott's reaction was not slow, and no one would be unable to get along with the money. If Chen Qiaoshan continued to bullish the trend of international crude oil, there was no need to end the option contract at this time. After all, the rise and fall of one cent was related to the gains of tens of thousands of dollars, so the result would not be difficult to see through.

Elliot asked: "Chen, are you going to short crude oil futures?"

"I have this plan."

Chen Qiaoshan did not deny that things could not be hidden, and UBS had complete confidentiality terms, so there was no need to worry about something going wrong in the middle. The most important thing was that the crude oil futures plate was big enough and could not be affected by any news.

Elliot knew that risk warnings were almost useless for Chen Qiaoshan.

At the beginning, the option contract was obviously a pitfall, but this person insisted on jumping in, and Chen Qiaoshan won the bet. Now he wants to short and has created such a big battle, so he obviously made up his mind.

It was useless to say more, and Elliot consciously extinguished his thoughts of persuasion.

He reminded: "Chen, we have a special investment custody business, and the trading is all senior traders. The security of the transaction is guaranteed sufficiently and the cost is low, which is definitely more cost-effective than spending money to hire someone."

Chen Qiaoshan did not change his mind. He almost suppressed all the funds this time. How could he feel at ease with the custody transaction? Even if he had to pay one more, he would not save it. Even if he just wanted to accumulate experience, it was worth it.

"No need to say anything, just do what I said."

Chen Qiaoshan made a final decision. The customer had a request, and even if he had different opinions in his heart, Elliot could only do so.

………

Chen Qiaoshan was a rare local tyrant. He booked four rooms in the administrative level as the base camp for this speculation.

The reason why I settled here is to seek peace of mind.

Although Chen Qiaoshan has no experience, he always has to feel much more at ease when watching him personally. Compared with the expected returns, this investment is nothing.

Elliot is still very reliable in doing things. He sent several personal resumes in a row, and they are senior traders at UBS for selection.

Chen Qiaoshan still attaches great importance to the security of hundreds of millions of dollars. He calmed down and looked at it for a while, but found that it was not the case at all.

With Chen Qiaoshan's half-baked level, it is impossible to distinguish these financial dogs based on his experience. However, these people have one thing in common: the commission is too expensive and it has seriously exceeded the budget.

According to the contract template, in addition to fixed commissions, there are also 1% to 3% performance dividends.

Chen Qiaoshan asked himself that he was not a stingy person, but according to this calculation, the cost expenditure was nearly one million, which was still US dollars. It was so painful to think about such a large amount of money.

Although Chen Qiaoshan was hesitant, he finally made up his mind. Although he mastered the trend, traders were indispensable. Even if they just spent money to buy peace of mind, they could not save this money.

…………

On October 12, the option contract with Sumitomo Mitsui was successfully delivered.

The spot settlement price of crude oil on that day is 54.17 US dollars, which is still a gap of 1.5 US dollars from the peak. In order to be safe and to avoid arousing suspicion, Chen Qiaoshan finally chose to exercise his rights in advance.

Based on this calculation, excluding various costs, the net profit was 15.7 million US dollars, which was more than seven times the profit compared to the investment of 2 million US dollars.

On the evening of that day, the Nikkei Shimbun evening magazine took the lead in publishing a short message:

Sumitomo Mitsui Bank suffered huge losses in crude oil futures contracts, with a loss amount of nearly 2 billion yen. Sources learned that the counterparty was the Hong Kong branch of the United Bank of Switzerland.

The news was short, but the response was quite large.

Sumitomo Mitsui is Japan's second largest commercial bank, but in early 2003, its bad debts reached 48 billion US dollars, and the margin capital adequacy ratio had even just reached the minimum standard line, which was very dangerous.

At this moment, the Japanese Financial Agency suddenly increased its efforts to reform bad debts in banks, claiming that it would evaluate the value of banks' loans with more stringent American accounting standards. There were even rumors in the market that the government was trying to collect some poorly managed commercial banks as state-owned, and Sumitomo Mitsui was the first to be affected.

Under this background, large losses are undoubtedly hot topics in Japanese media, and it is reasonable to be watched by the media.

...

Capital has no borders. Just as Japanese media broke the losses, Yahoo Hong Kong also reprinted this financial news as soon as possible. For a moment, the news quickly spread in the Hong Kong financial market.

These days, listing financing of more than one billion Hong Kong dollars in the Hong Kong stock market is rare, and 15 million US dollars is enough to stir people's hearts.

There is no shortage of people who are watching melons everywhere. This speculative transaction has quickly become a hot topic. Basically, everyone who knows it or not knows it.

"Chen, you are the craziest speculator I have ever seen." Elliot held a champagne in his hand and looked at Chen Qiaoshan staring at TV and watching financial news. He said helplessly: "It is also the most boring speculator. He won such a big victory and did not open a party to celebrate, but stayed in a hotel. This is terrifying."

Chen Qiaoshan smiled and said, "Why didn't you celebrate? You should know that I don't have a special interest in wine. The champagne in your hand was specially prepared for you. How about it, is it fun?"

Elliot showed a contemptuous look, "Your account has enough money to buy a separate house in Repulse Bay, and you still care about a bottle of champagne?"

Chen Qiaoshan shook his head and said, "Eliot, there is an old Chinese saying that gifts are light and affection is heavy. Price is not the key, the key is this kind of intention."

Seeing that the tall foreigner was confused, Chen Qiaoshan didn't care and said, "And this is just the beginning, it's not time to celebrate yet."

Elliot had a headache. Who would have thought that even the Hong Kong financial industry was alarmed when faced with such a huge sum of money, but the parties involved were sleeping in the hotel like nothing happened and never went out for a few days.

"Chan, what did you plan? Should you tell me?"

Chen Qiaoshan smiled and said, "Tell you? Can I trust you?"

Elliot defended: "Oh my God, I have explained it many times. UBS has complete confidentiality terms and will never disclose customer information. This time it was leaked by Sumitomo Mitsui and it has nothing to do with us."

"Is that true?" Chen Qiaoshan threw several financial magazines over, and one of them had a photo of Elliott printed on the cover. Needless to ask, there must be an exclusive interview with this guy inside.

It is just normal business promotion. The more celebrity agents are, the more they need to increase their exposure, especially when they are in the rising stage of their careers. This is understandable.

Chen Qiaoshan had no big objection to this, but he did not show it on his face.

Things have two sides, and the next step is the top priority. He doesn't want Elliot to be immersed in false performance and lose his soberness.

Seeing a pile of evidence, Elliot was also a little embarrassed. It was nothing to brag, but in front of Chen Qiaoshan, he could not continue to maintain his calmness. "Chen, it is indeed a bit inappropriate to do this, but I have strictly followed the terms of the confidentiality agreement and did not disclose any information about you. You know that."

"Eliot, I have no intention of pursuing it." Chen Qiaoshan reiterated, and then said: "But don't forget our agreement. Before the 16th, the futures team must be built."

Elliot picked up the wine glass and drank it all, then promised: "I promise that it will be done before the 16th."

He knew that the man in front of him looked as humble and gentleman, but he was not as kind as he seemed on the surface. Those who could have such self-control in the face of huge wealth would definitely not be a simple person.
Chapter completed!