In the evening, Lu Ming was in the small living room of his residence, watching the trend of the crude oil market through a laptop computer.
As for the specific trading process, Lu Ming did not participate and did not have time, because the winning score was within those critical minutes, so the specific trading process was done by Wanxiang's people.
Yesterday, Wang Yue personally came to Lu Ming's house, not just to deliver materials.
What Lu Ming has to do now is to watch and wait for Wang Yue to call and tell him the final result.
Time passed by, and at around 19:00 in the evening, the price of WTI crude oil futures fell from 18.27 US dollars/barrel to 13 US dollars/barrel, with an intraday decline of -28.84%. During the decline, many bulls chose to buy the bottom.
Game short-term rebound.
It has already fallen below $15, and it’s time to rebound.
At this time, the May contract still has a staggering 140,000 lots of positions.
However, the rebound in oil prices that the bulls had been waiting for did not appear. Instead, after 19 o'clock, the 2005 contract started a new round of decline again, falling from US$13/barrel to US$11/barrel. The intraday decline further expanded to -39.79%, bargain hunting.
Some crude oil players are getting more and more excited and are not willing to accept it and continue to increase their chips.
In fact, the liquidity at this time has actually been a problem, and it is incomparable to the liquidity during April 15.
Time gradually advanced to 22:00 sharp, and trading on the Yuanyoubao platform stopped at this time node, while WTI oil prices stabilized at 11.7 US dollars/barrel.
A huge and fatal loophole in Yuanyoubao appeared, and its final withdrawal time was 22:00 on April 20th in Dongba District, which is at this moment.
In North America, the final delivery time of the WTI crude oil 2005 contract is 2:30 a.m. on April 21, which is 2:30 a.m. tonight.
In other words, the closing time of Yuanyoubao was delayed four and a half hours before the final delivery time of the North American exchange.
There is a fatal problem here. The closing time of Yuanyoubao has been postponed to the last day. However, because domestic banks have to get off work early, on the last day of April 21, the domestic trading time does not fully correspond to the North American trading time.
, but left a four-and-a-half-hour time slot.
Just after 22:00, a fatal loophole in the trading time means that customers of the Yuanyoubao platform can no longer trade at this moment, but the terrible thing is that the CME Group is still continuing to trade, which undoubtedly brings trouble to Wall Street and its international partners.
Short sniping provides great convenience.
Time passes by, and the players of Yuanyoubao should go to sleep and do whatever they are supposed to do, but the WTI crude oil 2005 contract is still trading.
Some domestic futures players can also trade in short-term games normally. Some domestic futures players do not participate through Yuanyoubao, but directly participate in futures market games through other channels.
If Yuanyoubao is the only big fish here, then the other individual players, large and small, are just small fish and shrimps.
At this moment, the WTI crude oil futures price is also trading sideways around $11.7, and seems to be stabilizing and about to rebound.
Just as the time entered the early morning of April 21, and the domestic side entered the second half of the night, the oil price, which was running sideways, seemed to be stabilizing and needed to rebound, but suddenly it started to plunge again and again.
"Damn it! Did you fall below 9 US dollars? Cut it in half within a day?" In a certain city in China, a retail investor who speculated in crude oil futures was dumbfounded when he saw the price of WTI crude oil continuing to plummet, and his mentality gradually collapsed. He bought in at the bottom of 11.5 US dollars.
As a result, the loss was 21 percentage points in two hours, which is a loss without leverage.
I can't bear it anymore!
Seeing the magnitude of the decline, this futures player really couldn't stand it anymore and decided to admit his losses and close his position and get out.
At this moment, he was not the only one who thought so. The bulls inside seemed to have a premonition that something bad was going to happen, and they were all trying desperately to close their positions and withdraw, but they soon discovered a situation that made their scalps numb.
Case.
The contract sold... no one took it at all!
Soon, oil prices further hit a record low, falling below $5/barrel, and the intraday decline expanded to more than -72%.
…
At the same time, Mr. Wang, who was also opening a computer at home and staring at the WTI disk, couldn't help but stand up from the sofa when he saw the oil price drop by this extent, staring intently at the oil price that was still falling.
Wang Yue stared at the screen motionless with shocked eyes and murmured to himself: "Good guy, you are so sure, brother, are the oil prices really going to fall into negative numbers?"
At this time, Mr. Wang was not doing anything. The people under the specific traders were working. When and how to take action, they had already formulated the strategy before the market, and strictly implemented it as Lu Ming said.
He was also waiting for the final moment, waiting for his subordinates to call him to report the results.
At this moment, due to the delay in closing their positions, all the bulls on the market began to fall into a collective panic and staged a situation of trampling on each other. The oil price quickly approached the unprecedented $0 mark.
Finally, oil prices fell to $0/barrel, recording an intraday drop of -100%. Everyone watching the price trend of WTI crude oil witnessed this historic moment.
Some night owls in many communication groups post screenshots to the group as soon as possible late at night, and they spread quickly.
Question marks like “???” flooded the screen in various communication groups.
Various futures exchange groups exploded in the middle of the night. Many people opened the corresponding software as soon as they saw the screenshots to watch and witness this incredible historic moment.
The historic plunge to $0 is the lowest opening price of oil futures since 1983, and there is no intention of closing the bottom.
We are heading towards negative oil prices.
When the oil price drops to $0, it means that the crude oil has been given away. What makes the bulls desperate is that even though this is the case, no one takes the order.
At this time, the short sellers have realized that all the institutions that can receive spot goods have left the market, and those left in the market are all speculators without the ability to deliver physical goods, and they are all lambs waiting to be slaughtered.
Wang Yue is also aware of this, but he is more aware than those short sellers, because Wanxiang has the ability to receive spot goods and is ready to make a sneak attack.
…
At two o'clock in the morning, short sellers began to tentatively sell the market, and the price of WTI crude oil futures once again started the third wave of rapid diving in the day, falling directly from US$0/barrel to an unprecedented negative settlement price.
At the same time, Yuanyoubao's positions on overseas exchanges at this moment are nearly 97,000 lots, and one lot is 1,000 barrels, which means more than 97 million barrels of crude oil, accounting for .
According to his trading seat on the CME Group, he is a speculative investor and not a hedging investor. Therefore, he is not qualified to deliver physical crude oil at maturity and can only be forced to liquidate his position.
At that time, Yuanyoubao and the long investors who had not yet closed their positions and evacuated had all lost their positions.
Four minutes before the close, the price of WTI crude oil futures fell to -14 US dollars per barrel, and the intraday decline expanded to -176.62%;
Two minutes before the close, the price of WTI crude oil futures fell to -22 US dollars per barrel, and the intraday decline expanded to -220.41%;
One minute before the close, the price of WTI crude oil futures fell to -30 US dollars/barrel, and the intraday decline expanded to -264.20%;
Some Yuanyoubao players were extremely desperate when they saw this situation, because the Yuanyoubao platform stopped trading as early as 22:00. Even if they saw the plummet and wanted to close their positions, they could not trade and could only watch.
Oil prices continue to plummet.
But having said that, even if they can trade at this time, they can't close the position, because no one will take the order in the market, and it is absolutely impossible for anyone to take it unless the price set by the short position is reached.
…
By 2:30 in the morning, the price of WIT crude oil futures plunged to an unprecedented level of -40.32 US dollars per barrel, with an intraday decline of -320.69%. This is equivalent to saying that a Yuanyoubao player participated today and made 500,000 yuan.
Jin lost all his money and still owed 1.103 million yuan.
In the end, the settlement price of the May contract of WTI crude oil futures was finally fixed at -37.63 US dollars per barrel, closing down -305.96% throughout the day. It was finally fixed at -37.63 US dollars because the delivery and delivery of WTI crude oil futures was based on the average of the last 3 minutes.
Price settlement.
Staring at the final settlement price of the WTI futures May contract, Wang Yue suddenly raised his thighs and roared in excitement and shock: "Oh my god, the closing price really closed at a negative price, and it was -37.63 US dollars. This guy is simply amazing!"
Mr. Wang has decided that Tiansheng Capital’s thigh must be embraced to the death.
Negative oil prices are unheard of, and reaching -$40.32/barrel is even more unthinkable.
At this moment, Mr. Wang's phone rang. It was his subordinates who called him immediately after the closing to report the final results. Mr. Wang immediately answered the phone.
