Big risk

His past expertise in the finance industry began to resonate in his mind, a beacon of hope amid the uncertainty. Over the course of 15 years, he had honed his skills, navigated volatile markets, and made strategic moves that resulted in financial success. Now, faced with the prospect of an impending crisis, Alex knew he had a chance to not only secure his own future but potentially reshape his destiny.

However, as he delved deeper into the intricacies of the crisis detailed in the newspaper, a heavy truth settled upon him. The scale of participation required a substantial amount of capital – an amount he currently didn't possess. It was a daunting realization that he would need to take a significant risk to even have a seat at the table.

After pondering for a while, Alex's determination won over his apprehensions. He knew that his window of opportunity was limited, and he couldn't afford to let fear hold him back. With a deep breath, he made a decision that would alter the course of his life. He would mortgage his only apartment, the sole asset he owned – a place his parents had worked tirelessly to acquire and passed on to him.

The weight of his choice settled upon him, a mix of anxiety and excitement intertwining within him. He had committed to this path, willing to put everything on the line to grasp a chance at securing his financial future. It was a risky gamble, but he was no stranger to calculated risks within the finance world. This time, however, the stakes were personal, and the outcome would shape not just his wealth, but his entire existence.

With a determined resolve, Alex set out to navigate the complex process of mortgaging his apartment. The bureaucracy and paperwork seemed a small price to pay for the opportunity he believed lay ahead. As he stepped into the bank and began the process, memories of his parents flooded his mind – their sacrifices, hard work, and the dreams they had for him.

Time seemed to stretch as he waited for the approval, his thoughts a whirlwind of emotions. Doubts and uncertainties tried to claw their way in, but he pushed them aside, reminding himself of the potential rewards that awaited him. And finally, after what felt like an eternity, the approval came through, solidifying his commitment to the risky endeavor he had undertaken.

With the necessary funds secured, Alex felt a mix of relief and trepidation. The path ahead was uncertain, and the outcome far from guaranteed. Yet, as he clutched the newspaper that had sparked this journey, he had taken the first step towards a future that was both daunting and promising.

Leaving the bank, he glanced up at the towering skyscrapers that loomed over him, a stark contrast to the era he now inhabited. The city was bustling with its own rhythm, unaware of the decisions he had just made.

He decided to waste no time and headed straight to the nearest electronics store. He knew he needed a reliable computer to execute his plan, one that could handle the complex calculations and data analysis he would perform. He scanned the shelves, looking for a suitable device, but was disappointed by the limited options available. Most of the computers were bulky, outdated, and expensive, reflecting the state of technology in this era.

He settled for the best one he could find, a beige box that boasted a Pentium processor and 16 MB of RAM. He paid for it with his credit card, hoping that it would be enough to serve his purpose. He also bought a modem, a printer, and some floppy disks, essential accessories for his operation.

With his purchases in hand, he hailed a taxi and instructed the driver to take him to his apartment. He had to act fast, before the market closed and the opportunity slipped away. He had done his research, and he had a clear strategy in mind. He would purchase call options of Thai baht, betting that the currency would appreciate against the US dollar in the coming days.

He knew that in the near future, on May 14, 1997, Thailand, with the assistance of Singapore, would spend billions of dollars of its foreign reserves to protect the Thai baht against speculative attacks. He knew that this would cause a temporary rise in the value of the baht, but it would not last long. He knew that the baht was doomed to fall eventually, as the country’s economic problems were too deep to be solved by a single intervention. He was not betting on the long-term strength of the baht, but on the short-term opportunity to ride the upward trend.

He planned to use his entire mortgage amount of $200,000 to buy call options of Thai baht with a 10x leverage. This meant that he could control $2 million worth of baht with only $200,000 of collateral. It also meant that he could magnify his returns by 10 times if his prediction was correct. However, it also meant that he could lose his entire investment if his prediction was wrong.

He knew it was a risky move, but he was confident in his analysis and judgment. He was willing to take the chance, hoping that it would pay off handsomely. He arrived at his apartment and quickly set up his computer and modem. He connected to the internet and logged into his online brokerage account. He checked the exchange rate of the baht against the dollar and saw that it was trading at 25.50 baht per dollar.

He entered his order to buy call options of Thai baht with a strike price of 25 baht per dollar. He specified the amount of $200,000 as his collateral and confirmed his order. The transaction was executed instantly, and he received a confirmation message on his screen.

He had done it. He had placed his bet on the future of Thailand's currency. He had put everything on the line for this opportunity. He felt a surge of adrenaline and anticipation as he stared at his screen, waiting for the market to react.

He hoped that he had made the right decision.

***Download NovelToon to enjoy a better reading experience!***