Life at The Top novel Chapter 541

The futures for the price of cotton suddenly began to increase after it had fallen from the peak.

The rise in trend was even steeper than its drop.

In a quick moment, the price had already increased by 1,800 Somer Dollars. Not only did it surpass the previous peak, but it seemed to be going strong as it continued to rise.

“It’s rising! It’s rising!” John shouted in surprise.

Kai stared at the market. Not only had all his losses returned to his account, but he had earned a few hundred thousand dollars as well.

If he sold his futures now, his 800,000 capital would become 1.48 million excluding procedural costs.

“It’s been less than an hour since the market opened. In only a few minutes, less than 20 since I entered the market…”

Kai stared at Jasper with disbelief.

As a man who worked in finance, he was no stranger to the stock market and futures.

However, despite working in it for so long, this was the first time he found out how much fun the futures market could be.

In less than 20 minutes, he now had almost twice his capital.

Not even by printing money could he earn so much so quickly!

“How… How are you so certain that it’ll rise?” Kai was stunned and truly impressed with Jasper. His tone when he asked the question was humble and polite as if he was asking his teacher for help.

“Domestic cotton production has been expanding these years, and this year’s output has accounted for 23% of the world’s total cotton production.”

Samuel glared at Jasper and scoffed. “Don’t look so happy so quickly. Do you think prices can grow seven times from what they started as? What a joke!”

Jasper ignored Samuel and stared at the market changes on the screen before him. He was trying to recall everything he could about this incident from his past life.

From what he remembered of his past life, the domestic futures had reached a peak of 23,800 for the price of cotton. Later that afternoon, after the country came to an agreement with a few others about cotton import trade, the prices began to drop in retaliation.”

If this were shares, then such a huge amplitude in a day would surely earn a lot of money.

After all, shares bought today could only be sold tomorrow. It was the only procedure.

Yet the futures market was different. Purchase and selling could be done at any time, regardless of its precedence.

As a result, huge amplitudes in price would generate a huge profit margin.