Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<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> will announce quarterly results on Friday, August 29, 7:30 p.m. Hong Kong Time.  In the lead-up, options strategies on the Hong Kong Exchange showcase a variety of approaches.</li>
<li>
Highlights: Recent option trades show a bias towards bullish sentiment. Two strategies using weekly options expiring soon after the earnings announcement are explored.</li>
<li>
Why Read: This review offers real-market insight into how sophisticated participants are positioning ahead of Tencent’s earnings.</li>
</ul>



Alibaba (9988 HK) will announce quarterly results on Friday, August 29, 7:30 p.m. Hong Kong Time.  In the lead-up, options strategies on the Hong Kong Exchange showcase a variety of approaches.

Highlights: Recent option trades show a bias towards bullish sentiment. Two strategies using weekly options expiring soon after the earnings announcement are explored.

Why Read: This review offers real-market insight into how sophisticated participants are positioning ahead of Tencent’s earnings.


Alibaba (9988 HK): Top Trades Ahead of Earnings

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>It was reported today that SoftBank sold 2.3 trillion won ($1.7 billion) worth of Coupang (CPNG US) shares this year.</li>
<li>The total number of Coupang shares sold in three rounds this year by SoftBank is 60 million, worth $1.66 billion (2.3 trillion won).</li>
<li>We believe that this partial stake sale of SoftBank by Coupang is likely to have a moderately negative impact on Coupang.</li>
</ul>


It was reported today that SoftBank sold 2.3 trillion won ($1.7 billion) worth of Coupang (CPNG US) shares this year.
The total number of Coupang shares sold in three rounds this year by SoftBank is 60 million, worth $1.66 billion (2.3 trillion won).
We believe that this partial stake sale of SoftBank by Coupang is likely to have a moderately negative impact on Coupang.


SoftBank Sold 2.3 Trillion Won Worth of Coupang In 2025

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Netskope Inc., a VC-backed cybersecurity leader and provider of enterprise network security platform that helps customers apply zero trust principles to protect sensitive data, filed to go public.</li>
<li>The Santa Clara-based Netskope has raised a significant amount of equity and debt. According to Crunchbase, the company has raised ~$1B in equity across many rounds of funding.</li>
<li>With 30%+ ARR growth, improving profitability and leadership position, I expect a strong interest around high-profile Netskope IPO.</li>
</ul>


Netskope Inc., a VC-backed cybersecurity leader and provider of enterprise network security platform that helps customers apply zero trust principles to protect sensitive data, filed to go public.
The Santa Clara-based Netskope has raised a significant amount of equity and debt. According to Crunchbase, the company has raised ~$1B in equity across many rounds of funding.
With 30%+ ARR growth, improving profitability and leadership position, I expect a strong interest around high-profile Netskope IPO.


Netskope IPO Preview: A Hot Cybersecurity Play Is On Deck

External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Systems Limited (SYS) held its corporate briefing to discuss 1H2025 financial result and future outlook.</li><li>SYS recorded the highest ever operating profit of Rs5.1bn in 1H2025. Revenue went up by 18%, followed by a 59% growth in earnings, mainly led by exchange gains due to PKR depreciation during the period.</li><li>While the management is yet to disclose specific details about the acquisition of BAT SAA Services, they noted that it presents an entirely new growth avenue for the company.</li></ul>

Systems Limited (SYS) held its corporate briefing to discuss 1H2025 financial result and future outlook.SYS recorded the highest ever operating profit of Rs5.1bn in 1H2025. Revenue went up by 18%, followed by a 59% growth in earnings, mainly led by exchange gains due to PKR depreciation during the period.While the management is yet to disclose specific details about the acquisition of BAT SAA Services, they noted that it presents an entirely new growth avenue for the company.

Topline Flash Note: Systems Limited (SYS): 1H2025 Corporate Briefing Key Takeaways

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>SoftBank widens its AI bet with a $2B stake in Intel, suffers a 12% dip over two consecutive days.</li>
<li>Nvidia’s dominance has hyperscalers wary of lock-in. With Amazon and Microsoft building their chips, SoftBank’s move lands right as the market searches for alternatives.</li>
<li>Can Son replicate Intel’s historic design-fab alignment in AI, or would execution risk outweigh his ecosystem-diversification logic?</li>
</ul>


SoftBank widens its AI bet with a $2B stake in Intel, suffers a 12% dip over two consecutive days.
Nvidia’s dominance has hyperscalers wary of lock-in. With Amazon and Microsoft building their chips, SoftBank’s move lands right as the market searches for alternatives.
Can Son replicate Intel’s historic design-fab alignment in AI, or would execution risk outweigh his ecosystem-diversification logic?


Masa’s AI Double Down: Masterstroke or Misstep?

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): Top Trades Ahead of Earnings

As Alibaba heads into 29 August earnings, option markets reveal activity from near-term spreads to longer-dated positioning. This Insight unpacks...

Gaudenz Schneider

SoftBank Sold 2.3 Trillion Won Worth of Coupang In 2025

SoftBank sold 2 .3 trillion won ($1.7 billion) worth of Coupang (CPNG US) shares this year. This partial stake sale of SoftBank by Coupang is...

Douglas Kim

Netskope IPO Preview: A Hot Cybersecurity Play Is On Deck

VC-backed cybersecurity company Netskope Inc. is expected to IPO in September. I have a positive view of upcoming offering and expect a strong...

Andrei Zakharov

Topline Flash Note: Systems Limited (SYS): 1H2025 Corporate Briefing Key Takeaways

Systems Limited (SYS) held its corporate briefing to discuss 1H2025 financial result and future outlook. SYS recorded the highest ever operating...

Topline Securities

Masa’s AI Double Down: Masterstroke or Misstep?

SoftBank invests $2B in Intel for AI, faces stock drop. While the market seems to look for alternatives to Nvidia, Son's strategy is still...

Mint Finance

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Market Cap (USDm)

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Dividend (Yield)

Alibaba (9988 HK): Top Trades Ahead of Earnings

As Alibaba heads into 29 August earnings, option markets reveal activity from near-term spreads to longer-dated positioning. This Insight unpacks...

Gaudenz Schneider

SoftBank Sold 2.3 Trillion Won Worth of Coupang In 2025

SoftBank sold 2 .3 trillion won ($1.7 billion) worth of Coupang (CPNG US) shares this year. This partial stake sale of SoftBank by Coupang is...

Douglas Kim

Netskope IPO Preview: A Hot Cybersecurity Play Is On Deck

​VC-backed cybersecurity company Netskope Inc. is expected to IPO in September. I have a positive view of upcoming offering and expect a strong...

Andrei Zakharov

Topline Flash Note: Systems Limited (SYS): 1H2025 Corporate Briefing Key Takeaways

Systems Limited (SYS) held its corporate briefing to discuss 1H2025 financial result and future outlook. SYS recorded the highest ever operating...

Topline Securities

Masa’s AI Double Down: Masterstroke or Misstep?

​SoftBank invests $2B in Intel for AI, faces stock drop. While the market seems to look for alternatives to Nvidia, Son's strategy is still...

Mint Finance

VC-backed cybersecurity company Netskope Inc. is expected to IPO in September. I have a positive view of upcoming offering and expect a strong...

SoftBank invests $2B in Intel for AI, faces stock drop. While the market seems to look for alternatives to Nvidia, Son's strategy is still...