Chapter 81
Chapter 81
Translation: Godtl
Manager Seo could feel the heavy tension permeating the office.
Truth be told, his own palms were drenched in sweat.
But he had responsibilities to uphold.
After all, wasn't he the department head of this Prime Grade division?
It was his duty as a superior to check on his employees' conditions and lift the mood.
"Did everyone get some sleep? How are you all holding up?"
The U.S. stock market opens at 10:30 PM Korean time and closes at 5 AM.
They needed to get at least some rest beforehand for the battle that would unfold then.
But judging by their expressions, it seemed no one had slept properly.
"Don't even ask. I couldn't sleep at all."
"Just thinking about hitting the U.S. market with 2 trillion won has my dopamine levels maxed out, but at the same time, I'm insanely worried. Losing just 1% here means 20 billion won. If we lose 10%, that's a whopping 200 billion!!"
"Let's not think so negatively."
"But the investments Chairman Jeong is currently involved in include VIX futures and various derivatives. Even a slight dip here could make hundreds of billions vanish in the blink of an eye."
Jeong Jin-ho had mobilized even the 1 trillion won sitting idle at headquarters, predicting that the U.S. market—currently considered the safest in the world—would soon be shaken, and declared a day trading operation.
He had instructed his employees to prepare their positions in advance.
The problem was that the approximately 800 billion won in positions were all extremely high-risk products.
They were VIX products betting that the XIV would collapse—if the prediction was wrong, they might not recover a single penny.
"What about the other positions? How are they?"
"From AMPL to most blue-chip stocks, he's covered them all."
He had taken positions in all the blue-chip stocks.
But not by going long.
"All short positions?"
"Yes. And with the full amount at that."
Chairman Jeong Jin-ho was absolutely certain something big was coming.
Otherwise, there was no way he would have gone all-in on shorting blue-chip stocks that were currently on an upward trend. Not to mention, he had 800 billion won in VIX products, essentially playing a game of Russian roulette.
"Is this really okay?"
"Those who recently joined our department probably wouldn't know. Things like this used to happen all the time."
"So you're saying this isn't the first time we've day traded with trillions on the line?"
"...Well, this is the first time for that. Anyway! What's our company motto? 'Have no ego!' We just need to follow the Chairman's orders without worrying!"
But even Manager Seo—Chairman Jeong's most loyal subordinate, one who would leap into a pit of fire without hesitation if ordered—couldn't help but feel uneasy this time.
His feelings must have shown on his face.
Despite his words urging everyone to calm down and trust the Chairman, the employees' expressions remained filled with anxiety.
"Even President Trent said it himself yesterday. That the market is safer than ever. That it's all thanks to him, and we should invest in the stock market without worry."
Suddenly, Manager Seo recalled the Chinese bubble crisis from years past.
The day before the Chinese bubble burst, the Communist Party had declared:
[Put all your money into the Chinese stock market now!]
And the very next day, as if waiting for the moment, the bubble burst, wiping out the people's wealth.
Why did this situation feel so eerily similar?
"But the Chairman must be worried too, right? The dice have already been cast."
Jeong Jin-ho had the heart of a beast.
But not even that could calm him now.
They were about to charge into the U.S. market with a staggering 2 trillion won and wage a day trading war.
For day trading to succeed, the U.S. market would have to crash.
But what if, instead of crashing, it continued smoothly as usual—or even rose slightly?
Then not only would the derivatives take a hit, but the shorted stocks would rebound, inflicting astronomical losses.
Under these circumstances, staying sober was impossible.
Even the veteran employees under Jeong Jin-ho were on the verge of losing their minds—how much worse must it be for Jeong Jin-ho himself, who bore full responsibility for all these investments?
"Good morning, everyone... Wait, no. Good evening."
"Oh. President. You're here."
"Yes. It's been a while since we've all gathered in the trading room like this. Brings back old memories. We'll start the meeting in five minutes."
"Yessir!"
The employees blankly stared at President Jeong Jin-ho's retreating back as he entered first.
"Hey. Did you see the President's face?"
"He looks like he just woke up from the sweetest nap ever?"
"Is he actually sleepy?"
"Not only that, he doesn't seem worried at all—if anything, he looks downright excited..."
At this, Manager Seo felt strangely relieved yet simultaneously gripped by sudden fear.
Today's going to be one hell of a long day—that much was certain.
＊＊＊
I'm only human, so of course I can't help but feel tense.
This is an all-or-nothing gamble with a staggering 2 trillion won on the line.
Especially with VIX products, where even slight fluctuations can make money vanish in an instant.
This is inherent to the nature of VIX products.
The XIV and inverse VIX products where we've parked massive funds share one critical trait:
They automatically liquidate once they hit a certain threshold.
But even if my predictions are correct and the VIX index in the US market does rise, I can't afford to relax.
If we thoughtlessly move funds in and out, the sheer scale of our current positions means slippage—the gap between our target price and actual market price—could widen dramatically, leaving us holding the bag.
This is precisely why you need to be extra careful when you've got more bullets to fire.
Dropping too many bombs at once could turn the entire field into scorched earth, shocking prices beyond recovery.
"..."
This market is a minefield of risks.
And when it comes to day trading using VIX, the risks multiply exponentially.
That's why even knowing a market crash was possible, the probability of losing money with VIX was higher than making profits.
Of course, we could've just shorted multiple stocks instead of betting on VIX to profit from a short-term crash.
'But that's just playing it safe.'
To make serious money quickly—very serious money—VIX was the right tool.
High risk, but equally high reward.
Maybe that's why.
Even as worries about potentially blowing all this money crept in, my fingers itched with restless energy bordering on madness.
I couldn't wait to storm the US market and wage an intense battle alongside countless other investors.
And stepping into this trading room after so long only amplified that excitement.
It felt like reliving my glory days when I roamed the FX market at will.
"Those who haven't been with our department long are probably experiencing this for the first time. But it's easier than you think. Just treat it like a game. When I, as your commander, tell you to buy a certain product, hit the buy button immediately. When I say sell, press sell. Simple, right?"
It really wasn't complicated.
Just follow my gut instincts—when I say buy or sell fast, all they had to do was execute. Child's play.
"But we're human, so mistakes happen. One wrong click could make hundreds of billions vanish before your eyes."
"...!"
"Faster is better, but don't rush so much that you end up buying when you should be selling, or entering wrong prices. And remember—even one second's delay can mean wildly different prices."
"Yessir!"
"Then everyone, prepare before the market opens."
Employees returned to their stations making final preparations.
But today might just pass uneventfully after all.
Just in case, I reached out toward the still-closed S&P500 index.
"...!?"
Then, as if it had been waiting, a vision bulleted into my brain like a gunshot.
Armageddon.
＊＊＊
"Phew. Don't mess up. Don't mess up. Don't mess up."
Employees warmed up their hands at their stations while waiting.
But whether from excessive tension, their hands turned icy and sweaty.
"Don't overthink it. The more nervous you are, the more mistakes you'll make."
"But how can we not be nervous? What if we accidentally hit sell instead of buy?"
"It's okay. That's why I distributed those practice files beforehand. So you could train with them."
Section Chief Seo had been doing this kind of work for so long that he'd even commissioned a specialized training program—one that allowed them to practice executing precise buy and sell orders at exact prices.
This was what he'd distributed to the staff.
"It's more effective for practice than you'd think. I'll guide you through it step by step, so just follow my lead."
"Yes, sir!"
"Alright. Buy immediately at $120!"
"Yes, sir!!"
Following Section Chief Seo's instructions, the employees threw themselves into rigorous training.
Just as they were fully immersed in their practice—
"Oh! The market's open!"
"Okay, everyone, get in position and stand by. Wait for the president's orders."
Bolstered by their training, the employees waited for President Jeong Jin-ho's command. But even after the market opened, it remained eerily quiet.
About an hour passed like this.
"Seems as calm as usual today, doesn't it?"
"Yeah. Normally, if the market's going to shake, it starts early."
But given the complete lack of movement so far, it seemed today would be...
"Huh? W-wait, it's moving."
"What the—why is everyone suddenly—?"
"Did some breaking news drop? Why is the market reacting all at once like this?"
Suddenly, stock prices began to fluctuate wildly.
The most volatile of all was the VIX index.
The index, which had been hovering around 11, skyrocketed to 20 in an instant.
As they stared blankly at the charts, a voice came through their headsets:
[Anyone holding VIX products right now—liquidate everything. Doesn't matter if you dump it all at once. Throw out every last position you have.]
It was President Jeong Jin-ho's first order.
Startled, the VIX team scrambled to offload their holdings.
An 80-billion-won bomb.
Normally, dumping 80 billion would be done in increments—that was just common sense.
But as if that didn't matter, he ordered them to unload everything at once.
The astonishing part? The entire position was absorbed almost instantly.
"Whoa. That fast?"
"How much did we just make in one shot?"
But there was no time to marvel.
[Now buy back in. This time, don't buy all at once—space out the purchases with some intervals.]
"Huh? B-but we just sold everything...?"
But the voice didn't reach President Jeong Jin-ho.
The employees only had headphones—no microphones.
"What are you doing?! Stop spacing out and buy as the president ordered! Didn't you hear? We can't afford even a single second's delay!"
"Ah—yes, sir!!"
And it wasn't just the VIX.
Dozens of other positions were receiving alternating buy and sell orders from the teams handling them.
"Guh—!"
This was on a whole other level from the practice runs.
What Section Chief Seo had put them through was child's play compared to this—it was like tasting the world's spiciest pepper after sampling something mild.
Scalping, usually done in minute or even second intervals based on algorithms or personal judgment, was one thing—but executing it purely on someone else's orders was far harder than they'd imagined.
A single misclick could mean losing billions in an instant. A madman's game.
Yet with every buy and sell, as they watched the absurdly climbing profit margins, dopamine was flooding their systems in waves.
'But how is the president keeping track of all this without a single mistake?'
Unlike the employees, who only had to click buttons on command, Jeong Jin-ho had to monitor each of these countless positions, issuing buy and sell orders in turn.
And yet—not a single error. Not even a stumble in his voice. As if he'd done this countless times before, he carried it out effortlessly.
More terrifying than the soaring profits was President Jeong Jin-ho himself—his unwavering voice, his flawless execution.
＊＊＊
The U.S. Securities and Exchange Commission.
The SEC.
As America's foremost financial regulatory authority, their role was to scrutinize the stock market, protect investors, and maintain market fairness.
So when certain players tried to disrupt the market, the SEC would identify and pursue them through intensive surveillance.
Lately, though, the market had been so quiet that even they had little to do.
Even when players tried to make moves, the absurdly low VIX meant it wasn't the right time for anyone to make a big score.
As a result, everyone was quietly observing the market without making any moves.
"Director. It seems a significant amount of capital has been positioned in specific trades over the past month."
"Oh?"
"Yes. To be precise, it started two months ago, but a week ago, an additional large sum was placed on short positions for VIX-linked products and other blue-chip stocks."
"Where is it all coming from?"
"Gold Reagan. But the capital that entered a week ago used Gold Reagan as their prime broker."
Director Alexter furrowed his brow at the mention of Gold Reagan.
Right now, the investment firm strutting around with the most confidence would undoubtedly be Gold Reagan.
And for good reason.
Many of President Trent's key advisors had ties to Gold Reagan.
"So those bastards positioned themselves in advance..."
"Could they be planning something?"
And with the backing of the U.S. President, no less.
It might sound like a conspiracy theory, but anyone who had been around the block in this industry knew full well that this was standard practice whenever a new administration took office.
"Still, keep a close eye on them. Especially the group that entered a month ago. What's their deal?"
"We haven't dug deep yet, but they're reportedly from Korea."
"Korea? They suddenly jumped in from there?"
"Yes. And with over 1.8 billion dollars, no less."
"...What? 1.8 billion dollars?!"
At first, he had assumed the Korean players were just small fry.
But 1.8 billion dollars?!
That was more than enough to shake the market.
No matter how vast the U.S. stock market was, the moment a force wielding over a billion dollars barged in, disruptions were inevitable.
"What the hell kind of people in Korea would—"
"Director!"
Just then, an employee rushed in urgently.
"You need to see the market right now."
"Why?"
"The VIX index just surged past 20 in an instant."
"What?!"
An index that had been hovering around 11 suddenly breaking past 20 was anything but a good sign.
Sure enough.
By the time the director checked, the index, which had just hit 20, had already soared past 25.
"What the hell is this? Why the sudden spike?"
"It looks like the dam has burst. All this time, money had been pouring into inverse VIX and XIV products. But just now, the government released employment and wage indicators—way higher than expected. The impact is rippling through the market."
"But for the market to collapse this suddenly?"
"Inverse VIX products are structured to take losses when the VIX rises, and they have automatic liquidation features for rebalancing. Right now, those liquidations are triggering stock declines, which in turn drives the VIX even higher—it's a domino effect."
Higher employment and wage figures suggested that interest rates might climb further.
Frankly, under normal circumstances, this wouldn't have been a big deal.
The problem was the sheer volume of money parked in inverse VIX products.
A minor fluctuation triggered automatic liquidations for rebalancing, and suddenly, everything spiraled out of control.
"Those government bastards knew damn well this would happen, and they still dropped the announcement out of nowhere...!"
So this was why Gold Reagan had positioned themselves in advance.
At this rate, tens of billions funneled into VIX-linked products could vanish in an instant.
And that wasn't all.
The resulting stock plunge could wipe out hundreds of billions.
This was Armageddon.
The beginning of Volmageddon.
"Wait. Forget Gold Reagan for a second. What about that Korean group you mentioned earlier?"
"That's actually where the most intense trading is happening right now. The data is beyond comprehension."
"W-what? They executed all this in just one minute?"
"Yes. And they're still trading aggressively. With the full 1.8 billion dollars, no less."
"S-so you're telling me they're day-trading with 1.8 billion dollars right now?!"
Have you ever seen such madness?!
Even a heavyweight like Gold Reagan wouldn't day-trade with 1.8 billion dollars.
Yet these lunatics were swinging that kind of capital around like it was nothing.
The real problem? Normally, reckless day-trading like this would lead to losses—but they were raking in profits instead.
"The U.S. market is crashing... and that 1.8 billion-dollar outsider is exploiting the chaos to plunder everything in sight—"
That was when the director realized.
Someone in Korea was launching an invasion on the United States. Right now.