Derivatives and Quantitative Strategist

Gaudenz Schneider

Index Rebalance

<ul>
<li>Timing expiration, assessing volatility, and managing event risk are crucial for effective option trades.</li>
<li>Exchange holidays, expiries, central bank rate decisions, and index changes can significantly impact volatility and market direction.</li>
<li>The attached document provides key dates to help navigate the complexities of option trading in Australia, Hong Kong, India, Japan, South Korea, and the USA.
</li>
</ul>


Timing expiration, assessing volatility, and managing event risk are crucial for effective option trades.
Exchange holidays, expiries, central bank rate decisions, and index changes can significantly impact volatility and market direction.
The attached document provides key dates to help navigate the complexities of option trading in Australia, Hong Kong, India, Japan, South Korea, and the USA.



2025 Essential Calendar for Option Traders in Asia: Key Dates & Insights

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

Korea Stock Exchange Kospi Index / Equity Derivatives

<ul>
<li>Since the end of September the Kospi has been diverging from the Nikkie which has rallied as JPY has weakened. Both Kospi and KRW have been moving lower.</li>
<li>Vast majority of option trading is in short dated expiries. The largest volume day of the week saw 99% of trading in expires &lt;= Jan 09</li>
<li>Implied vols were quiet but there was some increased tilt to skew making out-of-the-money Puts slightly more expensive.</li>
</ul>


Since the end of September the Kospi has been diverging from the Nikkie which has rallied as JPY has weakened. Both Kospi and KRW have been moving lower.
Vast majority of option trading is in short dated expiries. The largest volume day of the week saw 99% of trading in expires &lt;= Jan 09
Implied vols were quiet but there was some increased tilt to skew making out-of-the-money Puts slightly more expensive.


EQD | Kospi Index Options Weekly - December 23 - 27

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Event-Driven

Korea Stock Exchange KOSPI 200 / Event-Driven

<ul>
<li>
As the year comes to its end, the trading calendar is impacted by two shortened weeks, with the Christmas holiday and New Year’s Day both falling midweek.</li>
<li>Holidays market trends can be affected by various non-market factors but it's always good to check the indexes probability of trend reversals, to avoid surprises.
</li>
<li>In this insight, we’ll take a quick look at the major Asia-Pacific market indices—a 'Christmas Carousel of Odds' for Asian markets, if you will.</li>
</ul>



As the year comes to its end, the trading calendar is impacted by two shortened weeks, with the Christmas holiday and New Year’s Day both falling midweek.
Holidays market trends can be affected by various non-market factors but it's always good to check the indexes probability of trend reversals, to avoid surprises.

In this insight, we’ll take a quick look at the major Asia-Pacific market indices—a 'Christmas Carousel of Odds' for Asian markets, if you will.


HSI, Nikkei 225, NIFTY 50, Kospi 200, ASX 200, CSI 300: Year-End Trends and Holiday Market Moves!

<ul>
<li>A bid for out-of-the-money puts combined with positive change in Put open interest and Put volume totals argues that Puts and being bought.</li>
<li>70% of NKY open interest is below 38,000 with only 20% of the open interest above 40,000.</li>
<li>NKY nearing top of range while registering quiet historic volatility levels 4-5 points below implied vols. </li>
</ul>


A bid for out-of-the-money puts combined with positive change in Put open interest and Put volume totals argues that Puts and being bought.
70% of NKY open interest is below 38,000 with only 20% of the open interest above 40,000.
NKY nearing top of range while registering quiet historic volatility levels 4-5 points below implied vols. 


EQD | Nikkei Index Options Weekly - December 09 - 13

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 Index</a> continues its going nowhere trend: there is a pattern however in what it does and it's quite repetitive as of lately.</li>
<li>While we don't attribute predictive value to chart patterns, we do know that a flat trend sooner or later breaks out. </li>
<li>Our models see limited upside for the current range-bound mini rally (2 weeks in the making). Next we will have a pullback, and it could happen already after this week.</li>
</ul>


The Nikkei 225 Index continues its going nowhere trend: there is a pattern however in what it does and it's quite repetitive as of lately.
While we don't attribute predictive value to chart patterns, we do know that a flat trend sooner or later breaks out. 
Our models see limited upside for the current range-bound mini rally (2 weeks in the making). Next we will have a pullback, and it could happen already after this week.


EQD | The Nikkei’s Wavering Trend: LONG Investors Should Brace For A Pullback.

Japan

The Nikkei-225 Stock Average is a price-weighted average of 225 top-rated Japanese companies listed in the First Section of the Tokyo Stock Exchange. The Nikkei Stock Average was first published on May 16, 1949, where the average price was ¥176.21 with a divisor of 225. 

Nikkei 225 (NKY INDEX)

2025 Essential Calendar for Option Traders in Asia: Key Dates & Insights

Timing expiration and managing event risk are essential for successful option trading. This document provides key dates for option traders across...

Gaudenz Schneider

EQD | Kospi Index Options Weekly - December 23 - 27

The Kospi has been diverging from the Nikkie which has rallied as JPY has weakened. Both Kospi and KRW have been moving lower.

John Ley

HSI, Nikkei 225, NIFTY 50, Kospi 200, ASX 200, CSI 300: Year-End Trends and Holiday Market Moves!

Trading calendar has 2 upcoming shortened weeks, this insight is offer analysis of the major Asia/Pacific indices to highlight potential sudden...

Nico Rosti

EQD | Nikkei Index Options Weekly - December 09 - 13

Investors are buying out-of-the-money puts on NKY as the change in open interest is skewed towards Puts at lower levels and price action...

John Ley

EQD | The Nikkei’s Wavering Trend: LONG Investors Should Brace For A Pullback.

As we know, the Nikkei 225 Index has been stuck in a repetitive pattern for the last few weeks. A potential pullback is looming beginning this...

Nico Rosti

2025 Essential Calendar for Option Traders in Asia: Key Dates & Insights

Timing expiration and managing event risk are essential for successful option trading. This document provides key dates for option traders across...

Gaudenz Schneider

EQD | Kospi Index Options Weekly - December 23 - 27

The Kospi has been diverging from the Nikkie which has rallied as JPY has weakened. Both Kospi and KRW have been moving lower.

John Ley

HSI, Nikkei 225, NIFTY 50, Kospi 200, ASX 200, CSI 300: Year-End Trends and Holiday Market Moves!

​Trading calendar has 2 upcoming shortened weeks, this insight is offer analysis of the major Asia/Pacific indices to highlight potential sudden...

Nico Rosti

EQD | Nikkei Index Options Weekly - December 09 - 13

​Investors are buying out-of-the-money puts on NKY as the change in open interest is skewed towards Puts at lower levels and price action...

John Ley

EQD | The Nikkei’s Wavering Trend: LONG Investors Should Brace For A Pullback.

As we know, the Nikkei 225 Index has been stuck in a repetitive pattern for the last few weeks. A potential pullback is looming beginning this...

Nico Rosti

Trading calendar has 2 upcoming shortened weeks, this insight is offer analysis of the major Asia/Pacific indices to highlight potential sudden...

Investors are buying out-of-the-money puts on NKY as the change in open interest is skewed towards Puts at lower levels and price action...