However, before he could delve deeper into the reasons, the market's plunge continued.
At around 10:30 AM, major indices such as the Shanghai Composite, Shenzhen Component, and ChiNext Index all fell back to their opening low points.
Meanwhile, the main futures contract for the 'Huazheng 500 Index' held by Su Yi hit a new intraday low.
This brought Su Yi's holding profit back to over 400,000 yuan.
Subsequently, as market trading continued, the entire market no longer showed the strong rebound strength of the initial trading session, instead exhibiting a trend of volatile decline.
Furthermore, after 2:00 PM.
The market experienced another rapid plunge, at one point pushing the index close to a 4.5% drop.
Among them, the Huazheng 500 Index, which was strongly correlated with Su Yi's positions, saw its maximum intraday decline reach 4.98%.
Finally, at the close of trading at 3:00 PM, the Shanghai Composite Index closed down 3.47%, falling below 5000 points, and the Huazheng 500 Index closed down 4.01%, settling at 10879.83 points.
Due to the overall sharp decline in market indices.
Over a hundred stocks in both markets hit their daily limit down, and over 500 stocks fell by more than 5%.
However, this sharp decline brought extremely substantial profits to Su Yi's holdings, increasing his unrealized profit to over 574,400 yuan.
Faced with these extremely substantial earnings, Su Yi still chose not to close his positions to lock in profits.
"Your luck, it's... truly extraordinary!"
Seeing that Su Yi still hadn't closed his positions to take profits, General Manager Lin, who was in a rather sour mood due to an intraday loss of over 4 million yuan, couldn't help but exclaim again,
"You really hit the market's pullback point perfectly."
Although the account operated by Su Yi had achieved several times its profit under the amplifying effect of leverage.
He still believed that Su Yi's trade was purely due to luck.
Su Yi said with a smile,
"I've said before, my luck has always been good."
"Then I wish you continued good luck,"
General Manager Lin said, then exited the trading account, shut down the computer, and left.
Su Yi looked up at the other few glum-faced traders remaining in the trading room, then exited his trading account, sent a message to Chen Anya, who was in charge of his business, and also turned to leave.
As he walked out of 'Yinghui Finance' company.
At this moment, in 'Yinghui Finance' company's trading account data risk control center.
The Risk Control Manager looked at the dozens of risky trading accounts that had been filtered out by the system's risk assessment and had already touched the warning line.
Feeling a severe headache, he quickly instructed his subordinate:
"Xiao Xu, immediately pull out a table for these risky trading accounts. Hand it to Manager Yang of the Business Department before closing time. Make sure their Business Department notifies the leveraged clients operating these accounts and requires them to increase their margins."
The market plummeted across the board today, and among the company's leveraged trading accounts.
There had already been five margin calls and one instance of negative equity that couldn't be force-liquidated, which put increasing pressure on their risk control department.
"Understood,"
Xu Xiaopeng quickly replied.
"What about that trading account I asked you to monitor closely last time?"
The Risk Control Manager asked.
Xu Xiaopeng responded:
"It's quite remarkable, this account has now completely escaped the risk of liquidation and has made several times its profit, but the other party hasn't closed the positions to lock in profits yet."
"Oh? Let me see."
The Risk Control Manager said, then quickly pulled up the data change curve for that account and glanced at it, also showing a surprised expression.
"It actually has an unrealized profit of more than 3 times! No wonder the system didn't continue to flag this account. In that case... we don't need to focus on monitoring this account's data changes for now.
The market is entering a period of severe volatility, and under such circumstances, the number of risky accounts screened out by the system will only increase. We should focus our energy on those truly dangerous trading accounts."
"Understood, Manager,"
Xu Xiaopeng continued to reply.
Subsequently, his gaze fell upon a trading account that was about to hit its position warning line and had been specially marked by him.
This account only started trading yesterday.
Account data showed that the client used a principal of 100,000 yuan, added 6 times leverage, operating with a total capital of 700,000 yuan.
Currently, the account has lost over 60,000 yuan, and the business agent handling this leveraged account is the same as the agent who handled the stock index futures trading account the manager previously asked him to monitor closely.
Both leveraged transactions were handled by Chen Anya.
Of course, the reason Xu Xiaopeng specially flagged this trading account was.
Firstly, this trading account indeed already showed the risk of a margin call or even negative equity; secondly, based on seeing Su Yi and Chen Anya talking together at the company yesterday, he strongly suspected that this trading account with liquidation risk was the one operated by Su Yi.
After all, Chen Anya only processed this one leveraged transaction yesterday.
Su Yi, of course, was completely unaware of Xu Xiaopeng's suspicions and covert attention.
At this moment, he only wished for time to pass more quickly and for the market's negative factors to intensify further.
And just as he expected.
In the evening, the external markets continued to open lower and trend downwards.
Furthermore, the Shanghai Composite Index failing to hold above 5000 points during the pullback also somewhat dampened the market's fervent bullish sentiment.
Then, influenced by this emotional atmosphere, the next day, Wednesday, June 17th.
The morning session in both markets only briefly turned positive for two minutes before continuing its free fall, plunging sharply.
At around 10:25 AM, it touched an intraday decline of 2.5%, and the low point was refreshed to around 4770 points.
At the same time, the main futures contract for the 'Huazheng 500 Index' held by Su Yi.
Plummeted even further, reaching a 3.5% drop.
Su Yi watched the unrealized profit in his trading account reach nearly 880,000 yuan, and seeing the almost desperate eyes of several other leveraged traders around him, he knew that this wave of emotional release, triggered by negative trends in the external markets, was nearing completion.
Once the emotional release was complete, bullish forces would inevitably rebound.
Therefore, a strong desire to take profits surged in his heart.
He planned to lock in his profits and settle the funds, then wait for the bullish rebound and the emergence of new negative factors before continuing to short.
Thinking of this, Su Yi decisively began to close his positions.
Ultimately, he concluded this trade by harvesting 880,000 yuan in profit over 4 trading days.
After completing the transaction, Su Yi settled his funds with 'Yinghui Finance' company and paid the corresponding interest.
Including his principal, he received a total cash amount of 1,007,500 yuan.
However, after the settlement was completed, Su Yi did not leave.
Instead, with the 1 million yuan cash in hand, he proposed to Chen Anya to continue with leveraged trading.
"You want to use this 1 million yuan to continue leveraged trading?"
Chen Anya felt her head buzz, losing the ability to think, and asked in utter shock,
"Continue with maximum 5x leverage?"
(End of this chapter)
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