Chapter 12
Chapter 12
I smiled and said I had bought GameHub call options.
But both of them looked shocked.
They probably already had a rough idea of the returns on my options.
Even if they didn’t know the premium or strike price.
“At least 100 percent, right?”
Manager Choi Choong-sik said, and the team leader shook her head.
“No, it’ll be at least 200 percent.”
“An intern… 200 percent, haha. I’ll have to step up my game.”
Manager Choi’s expression showed disbelief.
I couldn’t believe it either.
200 percent seemed way too much.
“No way. I don’t think it’s that high.”
“Shall we bet? Over 200 percent?”
Another bet.
This one didn’t need to be declined.
If I won, I’d win a bet. If I lost, the return was massive anyway.
“Fine.”
“Check it.”
I opened the mock trading account on the computer.
First, I checked the value of the options I bought.
Based on yesterday’s closing price, the premium was $7.70 for 851 call options.
[$655,270]
The return was huge.
I initially invested $2.50 per option, 851 contracts.
[$212,750]
A gain of $5.20 per contract.
[$442,520]
That was my profit in the mock account.
“Over 200 percent… I lost the bet.”
I had lost the bet, but I wasn’t sad.
My lips curved into a grin.
Partly from the mock account returns over 200 percent, but mostly because of my real account.
The account held 316 contracts.
I calculated quickly.
Premium gain: $5.20.
Total 316 contracts, each representing 100 shares.
[$164,320]
In won, that’s 177,465,600.
Pure profit from this trade alone.
While mentally crunching the numbers, they spoke.
“Deok-su, what will you do? Sell? That’s already a good return.”
“…”
“Wouldn’t selling be better?”
Both were suggesting I sell.
But I didn’t want to sell yet. Honestly, I was greedy.
It was just double for now.
Even if I checked short interest, a short squeeze wouldn’t occur in a day after the stock jumped.
If a short squeeze happens, it would surge further.
Waiting was the best choice.
It wasn’t yet time to sell.
No scent told me to sell.
If the scent appeared, that’s when I’d sell.
The only concern was their opinions.
Two experts simultaneously suggested selling, and as an intern, going against them was nerve-wracking.
But investing is personal responsibility.
I couldn’t be swayed.
I decide, I take responsibility.
Looking at them, I spoke my decision.
“I’m holding.”
“Holding?”
“Ha, Deok-su, you’re an interesting kid. Mind telling me why?”
How to explain?
I had no choice but to tell the truth.
“Instinct.”
“Instinct?”
Manager Choi nodded in agreement.
“Sharp instincts are crucial in investing. Sometimes more important than data analysis.”
“I was also greedy. I felt that if it went well, it could rise dozens of times.”
Manager Choi’s face hardened slightly.
“Dozens of times? Possible, yes. But doing that is not good long-term. Like a poisoned chalice. Some juniors who made hundreds of times with options didn’t end well.”
“Understood. I’ll keep that in mind.”
“Deok-su, no need to be greedy. In the mock account, you’ll still be first. Interns rarely get over 50 percent.”
“The team leader’s right. You can choose, but selling now isn’t a bad idea either.”
Once again, they urged me to sell.
I understood their perspective.
After all, it’s a mock account.
Selling now would almost guarantee first place.
No need to be greedy.
It’s rational.
But not for me.
I wanted to see how much I could really earn.
“I’ll hold.”
I said it louder and more decisively.
“Oh, quite firm. Alright, I won’t say more.”
“Sorry.”
“No need to apologize…”
“Thank you for the advice.”
“No thanks necessary. Again, whether prop trading or anything in Yeouido, risk management is key to surviving long-term. Don’t forget that, got it?”
“Yes.”
“Let’s end the meeting.”
“I lost the bet, so I’ll buy coffee. Manager Choi, what would you like?”
“Me? Espresso con panna.”
“You like coffee, huh? Espresso, then.”
“A little.”
“I’ll be right back.”
I went to the café, ordered three drinks, and took out my phone.
I opened the app and checked my account.
Seeing the balance, I clenched my fist.
Still, I wasn’t satisfied.
The scent hadn’t told me to sell yet, so it was certain it would rise further.
And my intuition also predicted a rise.
Deok-su left to get coffee, leaving only Team Leader Kim Yuri and Manager Choi Choong-sik.
Manager Choi said,
“Intern Kim Deok-su… is he just a new generation thing? You and I both suggested selling, but he didn’t budge. Impressive.”
No negative tone.
“Too stubborn, right?”
“A trader needs stubbornness.”
“But it worries me. If he’s like this as an intern, will he ignore others later?”
“Doesn’t seem so. First impression, not obstinate.”
Kim Yuri agreed.
Deok-su wasn’t stubborn, but determined.
He would push forward if he had logical reasons or believed it was right.
Gentle in appearance, but bold inside.
“By the way, Manager Choi, what do you think of GameHub?”
He glanced around and spoke quietly.
“Honestly, I think it will rise further. I told him to sell because it’s a mock account and the returns are already good. If real money, holding is better.”
“Really? Looking at the data, it doesn’t seem like it. GameHub’s explosive rise needs retail investors to unite… that’s tough.”
“Yes, but sometimes things happen that data or charts can’t explain. Somehow, I feel GameHub will do just that.”
“You still value intuition over data.”
“Crhm. Some tendencies don’t change.”
“But now, you should consider data as well. Fix the weaknesses, and you’ll thrive. Regain your former reputation.”
Manager Choi was a phenomenal trader, promoted to manager within a year.
He was famous for impressive returns on Yeouido.
But his reliance on intuition over data once caused massive losses, and he never fully recovered.
Why did Kim Yuri choose him?
Unknown.
Not her, but Deok-su chose him.
And HR probably recommended him.
“Reputation? That’s all past. I just want to stay consistent, survive. Not get fired.”
Kim Yuri smirked.
She sensed it wasn’t his true heart.
Then Deok-su returned with coffee.
After a short break, everyone returned to their seats.
The stock market opened with alerts.
“Alright, let’s hit the jackpot!!”
Team Leader Kim Yuri’s shout marked the start of another battle without bullets.
Future Securities Risk Management Department.
Head Kim Yu-seong stared at his personal trading screen.
His expression was grim.
Most of his stocks were in the red.
-5 percent was mild, some were down -70 percent.
“Sigh… damn it.”
A minus like no other.
Even rising stocks fell when he bought them.
While watching bitterly, the phone rang.
“Head Kim, Deputy Gu from Team 2 is -6 percent. Locking the account due to risk limit.”
“Okay.”
He answered briefly, then checked the time.
“1… 2… 3… 4…”
He smirked.
“Late today.”
He picked up slowly.
“Head Kim, please… just one more hour.”
“Submit a report within an hour.”
Prop traders exceeding losses must submit a report detailing the reason and plan.
“Alright, 30 minutes then.”
Kim Yu-seong hung up without reply.
The next call came, but he barely answered and hung up.
Back to the monitor.
How to make money?
No solution appeared.
It was too difficult.
He watched YouTube to relieve stress.
Then scrolled a stock community.
Reading posts was both relaxing and informative.
One post caught his attention:
[Retail Investors vs Hedge Funds, Who Wins?]
Of course, hedge funds normally win.
Retail investors are just prey.
But predicting a winner?
The two sides were in a deadlock?
He clicked to read.
It wasn’t about Korean stocks, but U.S. stocks.
The star was GameHub.
“GameHub? Why?”
He had often used it while studying abroad in the U.S.
The core was simple.
Hedge funds shorted more than the outstanding shares. Retail investors noticed, united, and bought.
This drove a rise, triggering short-covering from a short squeeze and gamma squeeze from call option sellers hedging, causing the stock to surge.
A few days ago, the stock was $20; yesterday it closed at $400.
In less than a week, it had increased twentyfold.
Kim Yu-seong licked his lips regretfully.
“I should have bought that.”
How to pick such stocks?
Not anyone can.
Only a true master could choose such a stock.
If such a master existed, he’d want to learn from them.
“Head Kim.”
Deputy Yoon brought an approval file.
“What is it?”
“It’s an analysis of the interns’ investment styles.”
It analyzed investment tendencies and risk management.
“Leave it.”
“Yes.”
He wasn’t interested.
His focus was on GameHub, reading the post intently.
After reading, he opened the report.
Though uninterested, he had to approve it.
“Who’s first now?”
His eyes widened.
The top return: nearly 600 percent.
The name?
“Kim Deok-su?”
Team 9 intern.
Did Yuri help him?
He checked the transaction history.
“Crazy!”
Risk management? None.
In other words, concentrated investment, all-in, like a retail investor.
Supervisors should monitor and coach, but they let it happen for the returns.
Even if top mock returns decide hiring, this kind of history would make hiring risky.
Yuri would clash, but couldn’t help it.
But something drew Kim Yu-seong’s attention strongly.
“GameHub call options?”
He couldn’t believe his eyes.
He asked Deputy Yoon:
“When is this data from?”
“Up to last week.”
“What? Last week?”
Not current.
If Kim Deok-su still held call options…?
He jumped from his seat.
Rushed to the floor with the asset management team.
“Deok-su, what will you do? Still holding?”
“No, I’ll sell soon. Today or tomorrow.”
“Where will you trade?”
“At the office.”
To react in real time, he’d use the office computers.
“Really? I want to watch.”
“Me too.”
The team leader and manager wanted to see the sale.
“Do as you like.”
“Thanks, I’ll watch then.”
“No problem.”
Then it happened.
“Kim Deok-su!”
A stranger’s voice called.
“Head Kim, what are you doing here?”
The team leader and manager were startled.
Kim Yu-seong ignored them and approached Deok-su.
“Did you sell the GameHub options?”
Suddenly, without warning.
“Sold? Not sold?”
“Ah, not yet.”
“Not sold? Then how much have you gained?!”
The Risk Management head’s eyes widened to the max.
I couldn’t understand why he cared so much about a mock account.