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Wedge: copper war
In mid-June, 2005, 5438+065438+ 10, an amazing news was confirmed: Liu, the deputy director of the National Material Reserve Adjustment Center (hereinafter referred to as the National Reserve Center) under the State Material Reserve Bureau and the sole trader of the National Reserve Center of the London Financial Exchange, has been missing for a long time, but he left 8,000 lots (25 tons each) and 200,000 tons of March copper to the National Reserve Center.
Simply put, the so-called copper futures short contract is to sell copper spot to the futures exchange at the agreed price; The so-called copper futures long contract refers to buying copper spot from the futures exchange at the agreed price on the maturity date. In the process of futures investment, if investors expect the future price to fall, they will short the futures market and sell short contracts. Assuming that the contract price at that time was 1 1,000 yuan per hand, if the price really fell to 800 yuan per hand at the expiration of the contract, investors could profit from 200 yuan per hand. Similarly, if an investor expects the price to rise in the future, he will go long in the futures market and buy long contracts.
Liu, a proud star trader, was besieged by international fund predators and disappeared.
1995, Bahrain Bank, a bank with a history of more than 100 years, finally traded derivatives because its Singapore trader Leeson violated the rules. ...