Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Context:<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba (9988 HK)</a> reported Q1 results on 29 Aug. Despite a revenue miss, strong cloud growth and its AI chip announcement drove the stock up double digits.</li>
<li>
Highlight: Implied volatility deflated sharply post-earnings, with the September contract down 8.5% and back months also lower, while skew shifted down in parallel.</li>
<li>
Why it matters: Put the current volatility surface into context. This insight can serve as a case study of how earnings-driven repricing can inform positioning ahead of future events.</li>
</ul>



Context:Alibaba (9988 HK) reported Q1 results on 29 Aug. Despite a revenue miss, strong cloud growth and its AI chip announcement drove the stock up double digits.

Highlight: Implied volatility deflated sharply post-earnings, with the September contract down 8.5% and back months also lower, while skew shifted down in parallel.

Why it matters: Put the current volatility surface into context. This insight can serve as a case study of how earnings-driven repricing can inform positioning ahead of future events.


Alibaba (9988 HK): Stock Surges Post-Earnings, Options Market Reprices

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Capital Markets

<ul>
<li>SHEIN is reportedly moving its corporate HQ to China to pave way for HK IPO</li>
<li>US 'de minimis' exemption for all countries ended Aug 29 (China/HK was May 2)</li>
<li>We believe end of US 'de minimis' exemption changed the game for SHEIN</li>
</ul>


SHEIN is reportedly moving its corporate HQ to China to pave way for HK IPO
US 'de minimis' exemption for all countries ended Aug 29 (China/HK was May 2)
We believe end of US 'de minimis' exemption changed the game for SHEIN


SHEIN IPO Update: HQ Shifted (Back) To China | End of US De Minimis Exemption, Everywhere

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7 stocks.</li>
<li>We provide seven major reasons why Koreans' investments in the US stocks (especially MAG7) have been surging in the past several years. </li>
<li>When will they sell? We provide some clues on this.</li>
</ul>


In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7 stocks.
We provide seven major reasons why Koreans' investments in the US stocks (especially MAG7) have been surging in the past several years. 
When will they sell? We provide some clues on this.


7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Equity Bottom-Up

<ul>
<li>E-Commerce is a natural fit for furniture brands given the difficulty of taking purchases home from stores.</li>
<li>A number of start-ups are attracting investment and growing fast, but more established online players like Lowya are now opening stores given demand to try out furniture before purchase.</li>
<li>Industry estimates suggest the e-commerce home decor market is growing at twice the rate of the market overall.</li>
</ul>


E-Commerce is a natural fit for furniture brands given the difficulty of taking purchases home from stores.
A number of start-ups are attracting investment and growing fast, but more established online players like Lowya are now opening stores given demand to try out furniture before purchase.
Industry estimates suggest the e-commerce home decor market is growing at twice the rate of the market overall.


Vega and Rivals Expand Home Decor E-Commerce in Japan

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba (9988 HK</a>/ <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">BABA US)</a>will announce quarterly results on Friday, August 29, 7:30 p.m. Hong Kong Time. The timing is crucial for options expiries in HK and the US.</li>
<li>
Highlight: The options market provides estimates for the anticipated price move. Implied volatility is projected to decline post-event; this Insight maps the resulting term structure.</li>
<li>
Why Read: Get the expected move and a view of the post-event volatility term structure.</li>
</ul>



Alibaba (9988 HK/ BABA US)will announce quarterly results on Friday, August 29, 7:30 p.m. Hong Kong Time. The timing is crucial for options expiries in HK and the US.

Highlight: The options market provides estimates for the anticipated price move. Implied volatility is projected to decline post-event; this Insight maps the resulting term structure.

Why Read: Get the expected move and a view of the post-event volatility term structure.


Alibaba (9988 HK): Expected Earnings-Day Swings and Options Market View

United States

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company's products include books, music, videotapes, computers, electronics, home and garden, and numerous other products.  Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.

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Amazon (AMZN US)

Alibaba (9988 HK): Stock Surges Post-Earnings, Options Market Reprices

Alibaba's Q1 results drive stock up 12% despite revenue miss. Implied volatility deflated post-earnings, offering insight for future positioning.

Gaudenz Schneider

SHEIN IPO Update: HQ Shifted (Back) To China | End of US De Minimis Exemption, Everywhere

Two pieces of news that could affect SHEIN: 1) the company reportedly will shift its HQ back to China soon to pave the way for a HK IPO; 2) the US...

Tracking Traffic

7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7...

Douglas Kim

Vega and Rivals Expand Home Decor E-Commerce in Japan

E-commerce furniture brands are growing as consumers seek convenience and selection, with industry growth outpacing overall market trends but Vega...

Michael Causton

Alibaba (9988 HK): Expected Earnings-Day Swings and Options Market View

Alibaba (BABA US // 9988 HK) reports today, 29 Aug pre-open US. US-listed options expiring 29 Aug price a 1-day move of 5.8%, with the ATM...

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Alibaba (9988 HK): Stock Surges Post-Earnings, Options Market Reprices

​Alibaba's Q1 results drive stock up 12% despite revenue miss. Implied volatility deflated post-earnings, offering insight for future positioning.

Gaudenz Schneider

SHEIN IPO Update: HQ Shifted (Back) To China | End of US De Minimis Exemption, Everywhere

Two pieces of news that could affect SHEIN: 1) the company reportedly will shift its HQ back to China soon to pave the way for a HK IPO; 2) the US...

Tracking Traffic

7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7...

Douglas Kim

Vega and Rivals Expand Home Decor E-Commerce in Japan

​E-commerce furniture brands are growing as consumers seek convenience and selection, with industry growth outpacing overall market trends but Vega...

Michael Causton

Alibaba (9988 HK): Expected Earnings-Day Swings and Options Market View

Alibaba (BABA US // 9988 HK) reports today, 29 Aug pre-open US. US-listed options expiring 29 Aug price a 1-day move of 5.8%, with the ATM...

Gaudenz Schneider

Alibaba's Q1 results drive stock up 12% despite revenue miss. Implied volatility deflated post-earnings, offering insight for future positioning.

E-commerce furniture brands are growing as consumers seek convenience and selection, with industry growth outpacing overall market trends but Vega...