April 20.
Today is the last trading day of the crude oil 2005 contract, because physical delivery will start from tomorrow, April 21. For speculators who do not have the ability to deliver physical goods, today is the last day to close their positions, otherwise they will be forced to close or pay liquidated damages.
At this time, the A-share market was doing well during the day, and the crude oil futures prices next door were fluctuating to new lows, but everyone seemed to be used to it, and there was no big panic on the A-share side.
After all, oil prices have been chattering non-stop, and they are already numb and used to it.
As of the close, the Shanghai Composite Index closed up +0.50% at 2852.55 points. The market fluctuated and closed high with a small positive line. The volume continued to decline, and it was another shrinking and rising market.
As night fell, Lin Li sat in front of the computer seriously, paying close attention to the trend of crude oil futures. Tonight was the night for him to get rich. Whether he could have a hard fight with Zhengxing Pharmaceutical depended on tonight.
During the day, Lin Li added another short position of 300 million US dollars in crude oil, and the average price of this order was around 19 US dollars. This money is all the profit from crude oil.
Even if he lost money, Lin Li didn’t feel bad, there was still a short position of 43 US dollars above, and he was not panicked at all.
Time passed by minute by minute. At around 19:00 in the evening, the price of crude oil futures fell from 18.27 US dollars per barrel to 13 US dollars per barrel, and the intraday decline reached -28.84%. During the decline, many bulls chose to buy the bottom and bet on a short-term rebound.
It has already fallen below 15 US dollars, and it’s time to rebound.
At this time, the May contract still has an astonishing position of 140,000 lots.
However, the rebound in oil prices that the bulls had been waiting for did not occur. Instead, after 19:00, the 2005 contract started a new round of decline, from $13/barrel to $11/barrel, and the intraday decline further expanded to -39.79%. Some crude oil players who were bottom-fishing became more and more excited and continued to increase their stakes.
Time passed by minute by minute, and Lin Li became more and more nervous as he looked at the market. The ashtray on the table was full of Lin Li’s cigarette butts.
"Is Tiger there? Tiger?" Lin Li shouted.
Li Hu, who was outside the door, heard the boss calling him and thought something had happened, so he rushed in immediately, and the other bodyguards immediately entered combat mode.
"Boss!!!" Li Hu responded after entering the door.
Lin Li was shocked by Li Hu’s posture. "What are you doing!!!"
Seeing Lin Li sitting in front of the computer alone, without any abnormality, Li Hu’s old face turned red and said, "Boss, what do you want me to do?"
"Do you have cigarettes?"
"Ah? Cigarettes" Li Hu was stunned. He didn’t react.
"Yes, cigarettes."
"Yes, yes…" When Lin Li mentioned it again, Li Hu finally reacted and hurriedly took out the cigarettes on his body and took out one for Lin Li.
"Leave this pack, you can buy another one! By the way, buy some midnight snacks."
"Uh, okay" Li Hu put the cigarette on the table in a daze"Then boss, nothing else, I’ll go out first."
"Yeah." Lin Li took a puff of cigarette, refreshed himself, and continued to stare at the market.
In the early hours of the morning, crude oil, which had been trading sideways, seemed to be about to rebound. Just when everyone thought so, another round of decline suddenly began.
9 US dollars! ! ! ! ! !
Good guy, it fell directly to single digits. . .
Many retail investors who bought the bottom at 18.19 looked at the price with bloodshot eyes.
"Damn, I stayed up late and still lost money. I can’t stand it anymore. I’m going to sell at a loss." A retail investor said angrily.
"Fuck, I can’t close it. Damn, no one is willing to take it. Fuck"
Not long after, crude oil prices hit a new historical low of $5 per barrel. The intraday decline widened to -72%. .
But this is not over yet, because the price is still falling.
Finally, crude oil fell to $0 per barrel, setting a daily decline of -100%, which is the lowest point in history so far.
Good guy, it went straight to zero.
The historic drop to $0 is the lowest level of oil futures opening price since 1983, and there is no sign of bottoming out.
At this price, it means that crude oil has been given away for free. Many longs who have not closed their positions thought that their orders were blown up and forced to close, but they found that they were not, and the orders were still there. . .
At two o’clock in the morning, the shorts began to tentatively smash the market, and the crude oil futures price once again started the third wave of rapid diving within the day, directly falling from $0 per barrel to an unprecedented negative settlement price.
Negative number! ! ! !
When have you ever seen a negative futures price? It’s really rare. . .
-14 US dollars.
-19 USD
-23 USD.
-30 USD.
It continued to fall without stopping,
-35 USD. .
Lin Li was shocked and began to close his positions manually and quickly.
Clearing and opening long positions at the same time. . . .
It was so extreme, and it was a heart-pounding game.
Finally, all the short positions of 400 million USD were closed, and a long position of 1 billion USD was opened.
When the USD reached -40.32 USD/barrel, the intraday decline was -320.69%
This was a historic moment. . .
And Lin Li’s average closing price was 38 USD, and the long position was opened at 39, which was the absolute bottom. . .
In this wave, Lin Li’s assets reached a terrifying 25.2 billion USD!!! , this is just shorting crude oil.
The 100 million short order at the top of $43, 81 times the profit, the 300 million short order at $19, 57 times the profit, directly let Lin Li take off on the spot.
Lin Li finally couldn’t stand the fatigue of his body, and fell asleep with a smile on his face. . It can be seen how excited Lin Li was.
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