Chapter 81

===================

Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

===================

Manager Seo could feel the heavy tension filling the office.

In fact, his hands were also full of sweat.

But he had responsibility.

Wasn’t he the manager of this Prime grade department?

So checking employees’ condition and lifting the atmosphere was a superior’s duty.

“Did everyone get some sleep? How’s your condition?”

The US stock market opens at 10:30 AM Korean time and closes at 5 AM.

They needed to get even a little sleep in advance for the war that would unfold then.

But looking at their expressions, no one seemed to have slept properly.

“Don’t even mention it. I couldn’t sleep well.”

“Just thinking about turning the US stock market with 2 trillion won fully charges my dopamine, but on the other hand I’m incredibly worried. Even losing just 1% here is 20 billion won. If we lose 10%, that’s a whopping 200 billion!”

“Let’s not think so negatively.”

“But the president’s ongoing investment mixes VIX futures with various derivatives. Even falling slightly makes hundreds of billions disappear in the blink of an eye.”

Jeong Jin-ho, who brought even 1 trillion won idle at headquarters, predicted the currently safest US stock market would soon shake, and declared short-term trading.

He instructed employees to establish positions in advance.

The problem was the position holding about 800 billion won consisted of extremely dangerous products.

VIX products betting XIV would collapse. If predictions were wrong, they might not salvage a single penny.

“What about other positions? How did it go?”

“Starting with Apple, he loaded up most blue chips.”

Meaning he loaded all quality stocks.

But not going long.

“All shorts?”

“Yes. The full amount too.”

President Jeong Jin-ho was convinced something big was approaching this time.

Otherwise why would he slam shorts on all currently rising quality stocks? Even 800 billion was put in VIX products playing Russian roulette.

“Will it be okay?”

“People newly entering our department probably don’t know. This kind of thing happened all the time.”

“Then this isn’t the first time doing short-term trading with trillion-won units?”

“..That is the first time. Anyway! What’s our company motto? Don’t have ego! We just don’t worry about anything and do whatever the president tells us!”

However, even Manager Seo, the most loyal of President Jeong Jin-ho’s loyal servants who’d jump into fire without hesitation at his command, was equally anxious about this matter.

That feeling seemed to show on his face too.

Even at his words to calm down and trust the president, employees’ faces were full of anxiety.

“President Trent said directly yesterday too. That the market is currently safest ever. That it’s all his credit, and not to worry and put money in the stock market now.”

Then Manager Seo suddenly recalled the old Chinese bubble crisis.

The day before the Chinese bubble burst then.

The Communist Party said this:

[Put all money you’re holding into Chinese stocks right now!]

And the next day, as if waiting, the bubble burst, blowing away all citizens’ wealth.

Why does it keep feeling like now resembles that time?

“But the president must also be very worried, right? The dice are already cast.”

Jeong Jin-ho is someone with a beast’s heart.

But this isn’t something a beast’s heart can calm.

The situation right before invading the US stock market with 2 trillion won and waging short-term trading war there.

Short-term trading is only established if the US stock market experiences a crash.

But if instead of a crash, it just flows smoothly as usual, or even rises slightly?

Then not only the currently entered derivatives but also the shorted stocks would reverse back, causing tremendous losses.

So they can’t endure with a clear head.

Even existing employees under Jeong Jin-ho for long were losing their minds, so what about Jeong Jin-ho who must take all investment responsibility?

“Everyone good morning.. No. Good night.”

“Oh. President. You came.”

“Yes. Meeting in this trading room is the first time in a while. Brings back memories. Then we’ll start the meeting in 5 minutes.”

“Yes!”

Employees blankly stared at President Jeong Jin-ho’s back as he entered first.

“No. Did you see the president’s face?”

“Totally like he slept wonderfully?”

“He really sleeps?”

“Plus far from worried, he seems very excited somehow..”

There Manager Seo felt strangely reassured while simultaneously fearful.

That they’d really be worked hard all day today.

***

Being human, I naturally have to feel nervous.

It’s a single-round match betting 2 trillion won.

Especially for VIX products, money disappears instantly at slight fluctuations.

This is because of VIX products’ nature.

XIV and inverse VIX products where much money is concentrated have something in common.

That is automatically liquidating upon reaching certain levels.

However, even if my prediction is correct and the US market’s VIX index really rises, I mustn’t relax.

If I thoughtlessly put in and pull out funds, since the amount we’re handling is very large, slippage – meaning the difference between the price I think and market price – can widen greatly, making only me lose.

That’s why the more bullets you have, the more careful you must be.

Because dropping many bombs at once suddenly makes it a wasteland, shocking prices.

“…”

It’s such a dangerous market.

Plus with short-term trading using VIX, even more risks exist.

So even knowing it could become a crash, probability of losing money with VIX was higher than earning.

Of course, predicting short-term crashes, you could short various stocks without necessarily putting money in VIX.

‘But that’s just a safe method.’

To earn very large money in a short period, using VIX was appropriate.

As risky as it is, returns would also be high.

Perhaps that’s why.

Though worrying what if I blow this money came first, my hands were itching maddeningly.

Because I wanted to quickly invade the US market and wage fierce battle with those countless investors.

And that excitement intensified from entering this trading room after a long time.

It feels just like those days freely roaming the FX market.

“Probably people who haven’t been in our department long, this will be their first such experience. But it’s not as difficult as expected. Just think of it as playing a game. When I, the conductor, tell you to buy a stock, immediately press buy. When I say sell, press the sell button. Easy, right?”

It’s not that difficult.

Just when I get intuition and quickly tell them to sell or buy, they just need to perform exactly that, very easy work.

“But being human, mistakes can happen. Plus clicking wrong makes hundreds, thousands of billions fly away before your eyes.”

“..!”

“Faster is better, but don’t rush too much and sell when you should buy, or write wrong prices – let’s be careful such things don’t happen. Also keep in mind being even 1 second late can change prices drastically.”

“Yes!”

“Then everyone prepare until the market opens.”

Employees returned to their seats making thorough preparations.

But today might just pass without incident.

Just in case, I tried touching the S&P 500 index that hasn’t opened yet.

“..!?”

Then as if waiting, some fantasy struck my brain like a bullet.

It was Armageddon.

***

“Phew. Don’t make mistakes. Don’t make mistakes. Don’t make mistakes.”

Employees were waiting at their seats warming up their hands.

But maybe because they’re too nervous, their hands got cold and sweaty.

“Don’t all be too nervous. The more nervous, the more mistakes you make.”

“But I can’t help being nervous. What if I really make a selling mistake?”

“It’s okay. That’s why I distributed files in advance. To practice with that.”

Manager Seo, having done this often before, even commissioned separately to make practice programs for accurate buying and selling at precise prices.

He distributed this to employees.

“Surprisingly this has practice effects. I’ll guide from the side, so just do exactly that.”

“Yes!”

“Now. Price is $120, buy right now!”

“Yes!”

Following Manager Seo’s instructions, employees were practicing hard.

While absorbed in practice like that.

“Oh. It opened!”

“Okay. Everyone go in and standby. Until the president’s instructions come.”

Employees who gained confidence even practicing waited until President Jeong Jin-ho’s orders dropped. But after the market opened, the session remained quiet as usual.

About an hour passed like that.

“Today also seems calm like usual?”

“Right. Usually if the market will shake, it should shake from the beginning.”

But seeing no particular movement until now, probably today..

“Huh? I-it’s moving.”

“What. Wh-why is everyone suddenly like this?”

“Is there some breaking news? Why is the market moving simultaneously?”

Stock prices suddenly start fluctuating.

Especially what started shaking most was the VIX index.

The index staying at 11 shot up to 20 instantly.

While blankly watching the chart, a voice came through their headsets.

[All VIX product holdings you’re holding now, dispose of them all. You can sell all at once. Throw everything you’re holding.]

President Jeong Jin-ho’s first instruction.

Startled, VIX-responsible employees quickly cleared holdings.

A bomb worth 800 billion won.

Usually when throwing 800 billion, isn’t dividing and throwing the golden rule?

But as if that didn’t matter, he had them throw all volume.

The amazing thing was the thrown volume was instantly absorbed.

“Wow. This quickly?”

“How much did we earn in one shot?”

But there was no time to admire.

[Buy again. This time don’t buy all at once, you must buy with some interval.]

“What? W-we just sold it all?”

But that voice didn’t reach President Jeong Jin-ho.

Employees only had headphones.

Because there was no microphone.

“What are you doing! Don’t space out and quickly buy as the president instructed! Didn’t you hear earlier? This can’t be even 1 second late!”

“A-ah yes!”

Not only VIX.

Sell and buy orders were alternately dropping to employees holding dozens of stocks too.

“Gasp!”

It’s a different dimension from practice earlier.

When Manager Seo practiced, it was just mild flavor, but now it feels like experiencing the world’s spiciest flavor.

Who knew scalping by the minute, if short by seconds, not by algorithms or one’s own judgment but following another’s orders, would be this difficult?

If they mistakenly press the wrong button, it’s a crazy game where hundreds of billions fly away that very day.

But the more they repeated buying and selling, the absurdly rising profit rate made dopamine explode on one side.

‘But how does the president do this without confusion?’

Unlike employees who just need to click buttons as commanded.

Jeong Jin-ho must look at all these numerous stocks one by one, repeating buying and selling.

But without a single mistake, without fumbling pronunciation, as if having done this countless times, he was naturally achieving it.

More than rising profit rates, President Jeong Jin-ho giving instructions without mistakes with unwavering voice started feeling far more scary.

***

US Securities and Exchange Commission.

AKA SEC.

As America’s representative financial authority, closely examining the stock market to protect investors and maintain market fairness was their role.

So if certain forces tried to disrupt the market, they moved forward to identify them through focused surveillance.

But recently the market was too quiet so they also had nothing to do.

Even if forces tried something, since the VIX index was absurdly low, it wasn’t a time when they too could pull off something big.

So everyone was quietly just observing the market.

“Director. They’ve caught quite a large amount in specific positions since a month ago.”

“Really?”

“Yes. Precisely from two months ago, but about a week ago they additionally caught large amounts shorting VIX side products and other blue chips.”

“Where are they all from?”

“Gold Reagan. But the force that entered a week ago came in using Gold Reagan as prime broker.”

At the words Gold Reagan, Director Alexter narrowed his brows.

Right now, the large investment company probably swaggering most would be Gold Reagan.

That’s natural.

Currently among key figures assisting President Trent, there are quite a few Gold Reagan people.

“Them establishing positions in advance means..”

“Maybe they’re trying to do something?”

With the US President behind them at that.. Though you might think it’s conspiracy theory, people who’ve rolled around this field knew very well it’s convention occurring every presidential change.

“Still, monitor thoroughly. Especially the force that entered a month ago. What’s there?”

“Haven’t looked into detail yet, but they say it’s from Korea.”

“Korea? They suddenly entered from there?”

“Yes. Over $1.8 billion at that.”

“..What? $1.8 billion?!”

Since it’s a force from Korea, he thought it was just so-so.

But $1.8 billion!

Isn’t this enough money to shake the market?

No matter how large the US stock market, the moment a force exceeding $1 billion invades, market disruption occurs.

“No. What kind of guys from Korea..”

“Director!”

Then one employee urgently entered.

“You need to see the current market situation.”

“Why?”

“The VIX index instantly broke through 20.”

“What?!”

The index staying at 11 breaking through 20 is never a good sign.

Sure enough.

When the director checked the market, the index that was 20 already broke through 25.

“What’s this? Why suddenly?”

“What had to burst seems to have burst. Hasn’t money been flocking only to inverse VIX and XIV all this time? But just now the government announced employment rate and wage indicators. They came out higher than expected, and that effect directly affected the market.”

“But the market suddenly bursts like this?”

“Inverse VIX’s characteristic is a structure losing money when VIX index rises, but there’s auto-liquidation function for rebalancing. So right now while auto-liquidating, stock prices are falling, VIX index is rising, making dominoes collapse consecutively.”

High employment and wage indicators suggest interest rates may rise more going forward.

Honestly, normally this wouldn’t be a big deal.

The problem was too much money flocked to inverse VIX.

Auto-liquidation for rebalancing starting at small fluctuations suddenly made things big.

“Government guys, clearly knowing this would happen, suddenly make such announcements..”

Is this why Gold Reagan guys were establishing positions in advance?

At this rate, tens of billions of dollars concentrated in VIX are in crisis of disappearing all at once.

Not only that.

Hundreds of billions of dollars were in crisis of evaporating due to stock price decline from that.

Truly Armageddon.

It was the beginning of Volmageddon.

“Wait. Setting aside Gold Reagan. What about the force that came from Korea earlier?”

“Actually right now the most actively trading is there. If you look at this, the data is at an absurd level.”

“Wh-what. They traded this in just 1 minute?”

“Yes. They’re still continuously trading now. With all $1.8 billion too.”

“S-so now these guys are short-term trading with $1.8 billion?!”

I’ve seen such crazy guys!

Even large securities companies like Gold Reagan don’t short-term trade with $1.8 billion.

But these guys were wielding huge capital without common sense.

The problem is, normally rushing short-term trading like this loses money, but they’re earning.

“The US stock market is crashing. That foreigner armed with $1.8 billion is plundering everything seizing the chaotic gap.”

There the director realized.

That someone in Korea is currently invading America.