Because futures trading is T+0, it can be bought and sold many times every trading day, so it is entirely possible to achieve a one-day 123% yield. As for how many points IF0707 rose that day, it is not the key, but the amplitude of IF0707 that day.

I didn't see the specific trend of IF0707 on June 25th, 2007. Let me estimate:

Assuming that the initial capital is 654.38+0 million, IF0707 will fall by 5% after opening. If this trader shorts IF0707 at the opening and closes his position after a 5% decline, the trader will make a profit of 500,000 yuan (not considering the handling fee for the time being, in fact, even if the handling fee is considered, it is very small), and his capital will become 6,543,800 yuan+0.5 million yuan. At this point, traders backhand Man Cang to buy long positions.

Then IF0707 rebounded under the impetus of buying and returned to the opening point (up 5%, but it should exceed 5%), and all positions were closed. The profit of this trader is 50%, that is, 654.38+0.5 million * 50% = 750,000, and the actual profit of the second round-trip transaction is 6.5438+0.25 million. ......

Do you agree with the above calculation? Is it possible for such a transaction result to appear in a simulated transaction?

Of course, the actual amplitude of IF0707 on that day may not be so large, but as long as there is a certain amplitude, it is possible to achieve the said profitability, because the amount of funds increases after each profit.