Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Event-Driven

<ul>
<li>Recent information leaked through local media reveals that KRX has ultimately opted not to list Ecopro Co's SSF in the upcoming September round.</li>
<li>Given the unusually high trading volume of at-the-money (ATM) options in the local SSO market, the market's interest in covered calls for dividend-yielding stocks can be substantial.</li>
<li>So, we should pay attention to stocks whose SSO is already listed or will be newly listed in September among those that have shifted their ex-dividend dates to post-dividend confirmation.</li>
</ul>


Recent information leaked through local media reveals that KRX has ultimately opted not to list Ecopro Co's SSF in the upcoming September round.
Given the unusually high trading volume of at-the-money (ATM) options in the local SSO market, the market's interest in covered calls for dividend-yielding stocks can be substantial.
So, we should pay attention to stocks whose SSO is already listed or will be newly listed in September among those that have shifted their ex-dividend dates to post-dividend confirmation.


Two Noteworthy Issues in Korea's SSF/SSO Selection in September Round

Pan-Asia Index Rebalances/Events/Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/Events/Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

<ul>
<li>We take a look at <a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro Co Ltd (086520 KS)</a>, <a href="https://www.smartkarma.com/entities/kum-yang-co-ltd" target="_blank" data-smartkarma-citation="entities:10364:1" rel="noopener">Kum Yang (001570 KS)</a> and <a href="https://www.smartkarma.com/entities/jyp-entertainment-corp" target="_blank" data-smartkarma-citation="entities:17598:1" rel="noopener">Jyp Entertainment (035900 KS)</a> since they appear to be on investor radars.</li>
<li>Foreign investors have been buyers while retail have been sellers in <a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro Co</a> and <a href="https://www.smartkarma.com/entities/kum-yang-co-ltd" target="_blank" data-smartkarma-citation="entities:10364:1" rel="noopener">Kum Yang</a> over the last month, while foreign investors have continued to buy <a href="https://www.smartkarma.com/entities/jyp-entertainment-corp" target="_blank" data-smartkarma-citation="entities:17598:1" rel="noopener">Jyp Entertainment</a>.</li>
<li>Short interest on all stocks has dropped over the last month, though there has been a recent tick up in shorts on <a href="https://www.smartkarma.com/entities/jyp-entertainment-corp" target="_blank" data-smartkarma-citation="entities:17598:1" rel="noopener">Jyp Entertainment (035900 KS)</a>. </li>
</ul>


We take a look at Ecopro Co Ltd (086520 KS), Kum Yang (001570 KS) and Jyp Entertainment (035900 KS) since they appear to be on investor radars.
Foreign investors have been buyers while retail have been sellers in Ecopro Co and Kum Yang over the last month, while foreign investors have continued to buy Jyp Entertainment.
Short interest on all stocks has dropped over the last month, though there has been a recent tick up in shorts on Jyp Entertainment (035900 KS). 


Korea - A Look at Ecopro, Kumyang & JYP Entertainment

<ul>
<li>Yonhap News reported on the exclusive coverage of Ecopro BM and L&amp;F's KOSPI transfer listing.</li>
<li>L&amp;F announced through the disclosure that they are considering the KOSPI transfer listing. Ecopro BM told another local news outlet that they are not currently reviewing the KOSPI transfer listing.</li>
<li>It seems that L&amp;F's KOSPI transfer listing is almost a confirmed fact. However, the Ecopro company in question may be Ecopro Co, not Ecopro BM.</li>
</ul>


Yonhap News reported on the exclusive coverage of Ecopro BM and L&amp;F's KOSPI transfer listing.
L&amp;F announced through the disclosure that they are considering the KOSPI transfer listing. Ecopro BM told another local news outlet that they are not currently reviewing the KOSPI transfer listing.
It seems that L&amp;F's KOSPI transfer listing is almost a confirmed fact. However, the Ecopro company in question may be Ecopro Co, not Ecopro BM.


What We Know Until Now About L&F & Ecopro BM's Kospi Transfer Listing

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">EcoPro Co Ltd (086520 KS)</a></strong> has swatted aside analyst downgrades and the indictment of its chairman to touch an all-time high. </li>
<li>Preceding my comments on EcoPro are the weekly setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>



EcoPro Co Ltd (086520 KS) has swatted aside analyst downgrades and the indictment of its chairman to touch an all-time high. 
Preceding my comments on EcoPro are the weekly setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: EcoPro Continues To Defy Logic

<ul>
<li>The severity of yesterday's ruling has caught the market's attention as it may provide insight into an ongoing investigation into insider trading based on undisclosed internal information.</li>
<li>This matter is not limited to the operational risk caused by the imprisonment of Lee Dong-chae. There is a possibility that it could lead to delisting, depending on the circumstances.</li>
<li>The substantial legal risk that could lead to delisting will further amplify price volatility. Adopting a more segmented approach appears crucial, like specific setups in each tighter interval.</li>
</ul>


The severity of yesterday's ruling has caught the market's attention as it may provide insight into an ongoing investigation into insider trading based on undisclosed internal information.
This matter is not limited to the operational risk caused by the imprisonment of Lee Dong-chae. There is a possibility that it could lead to delisting, depending on the circumstances.
The substantial legal risk that could lead to delisting will further amplify price volatility. Adopting a more segmented approach appears crucial, like specific setups in each tighter interval.


Delving into the Nature of the Legal Risks that Ecopro Is Facing After Yesterday's Court Verdict

South Korea

Ecopro Co., Ltd. specializes in developing chemical absorbent and NDC (Nano Carbon Ball) in the field of environmental materials for the prevention of air pollution.  The Company's products include environment-related chemical filters, second battery materials, and CO catalyst.

52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Ecopro Co Ltd (086520 KS)

Two Noteworthy Issues in Korea's SSF/SSO Selection in September Round

This post delves into KRX's single-stock futures and options selection in the upcoming September round and discusses two critical issues.

Sanghyun Park

Korea - A Look at Ecopro, Kumyang & JYP Entertainment

Ecopro, JYP and Kumyang stock prices are volatile and a couple are trading sharply higher again today. The price spurts have implications for the...

Brian Freitas

What We Know Until Now About L&F & Ecopro BM's Kospi Transfer Listing

This post provides the latest update on today's news about the possibility of L&F and Ecopro BM's KOSPI transfer listing.

Sanghyun Park

StubWorld: EcoPro Continues To Defy Logic

Both Ecopro Co and long Ecopro BM are overheated. I would look to unwind the stub - short Ecopro Co and long Ecopro BM - once this momentum starts...

David Blennerhassett

Delving into the Nature of the Legal Risks that Ecopro Is Facing After Yesterday's Court Verdict

This post delves into the nature of the legal risks that Ecopro is really facing after the latest court verdict came out.

Sanghyun Park

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Two Noteworthy Issues in Korea's SSF/SSO Selection in September Round

This post delves into KRX's single-stock futures and options selection in the upcoming September round and discusses two critical issues.

Sanghyun Park

Korea - A Look at Ecopro, Kumyang & JYP Entertainment

Ecopro, JYP and Kumyang stock prices are volatile and a couple are trading sharply higher again today. The price spurts have implications for the...

Brian Freitas

What We Know Until Now About L&F & Ecopro BM's Kospi Transfer Listing

This post provides the latest update on today's news about the possibility of L&F and Ecopro BM's KOSPI transfer listing.

Sanghyun Park

StubWorld: EcoPro Continues To Defy Logic

Both Ecopro Co and long Ecopro BM are overheated. I would look to unwind the stub - short Ecopro Co and long Ecopro BM - once this momentum starts...

David Blennerhassett

Delving into the Nature of the Legal Risks that Ecopro Is Facing After Yesterday's Court Verdict

This post delves into the nature of the legal risks that Ecopro is really facing after the latest court verdict came out.

Sanghyun Park

This post delves into the nature of the legal risks that Ecopro is really facing after the latest court verdict came out.