Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Context: Over the past five trading days, <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (9618 HK)</a> multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.</li>
<li>
Highlights: Diagonal Spreads continue to enjoy popularity. Plus, an out of the money butterfly at near zero premium demonstrates a creative application of this popular option combination.</li>
<li>
Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,</li>
</ul>



Context: Over the past five trading days, JD.com (9618 HK) multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.

Highlights: Diagonal Spreads continue to enjoy popularity. Plus, an out of the money butterfly at near zero premium demonstrates a creative application of this popular option combination.

Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,


JD.com (9618 HK) Top Option Trades: Bullish Butterfly Stands Out Amond Bearish Sentiment

<ul>
<li>
Context: Over the past five trading days, <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.</li>
<li>
Highlights: With 20% of all strategies traded being Diagonal or Calendar Spreads, this remains a popular strategy. Directional positioning does not exhibit a bullish or bearish bias.</li>
<li>
Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,</li>
</ul>



Context: Over the past five trading days, Tencent (700 HK) multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.

Highlights: With 20% of all strategies traded being Diagonal or Calendar Spreads, this remains a popular strategy. Directional positioning does not exhibit a bullish or bearish bias.

Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,


Tencent (700 HK): Top Trades and Strategy Insights from Options Trading

<ul>
<li>
Context: Over the past five trading days, <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 Group Holding (9988 HK)</a> live multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.</li>
<li>
Highlights: Diagonal Spreads continue to enjoy popularity. Strategies tend to have a short-term horizon and exhibit a slightly bearish bias.</li>
<li>
Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,</li>
</ul>



Context: Over the past five trading days, Alibaba Group Holding (9988 HK) live multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.

Highlights: Diagonal Spreads continue to enjoy popularity. Strategies tend to have a short-term horizon and exhibit a slightly bearish bias.

Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,


Alibaba (9988 HK): Top Trades and Strategic Insights from Options Trading

<ul>
<li>
Context: Analysis of <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's (9988 HK)</a> implied volatility surface as of June 20, 2025, examining implied volatility patterns, skew structures, and open interest distribution across various expiry dates.</li>
<li>
Highlights: One-month implied volatility at 31.6% is trading at historically cheap levels (13th percentile), while the skew shows a pronounced volatility smile favoring spreads.</li>
<li>
Why Read: Essential for options traders and volatility strategists looking to capitalize on the historical cheapness of current implied volatility levels, particularly given the favorable skew structure for spread strategies.</li>
</ul>



Context: Analysis of Alibaba's (9988 HK) implied volatility surface as of June 20, 2025, examining implied volatility patterns, skew structures, and open interest distribution across various expiry dates.

Highlights: One-month implied volatility at 31.6% is trading at historically cheap levels (13th percentile), while the skew shows a pronounced volatility smile favoring spreads.

Why Read: Essential for options traders and volatility strategists looking to capitalize on the historical cheapness of current implied volatility levels, particularly given the favorable skew structure for spread strategies.


Alibaba (9988 HK) Options Insights: Navigating Contango and Skew for Profitable Trades

<ul>
<li>Over the past five trading days, <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.</li>
<li>Popular Strategies: Diagonal Spreads account for 27%of all strategies. This versatile strategy allows for many different profiles in terms of upfront premium (positive or negative), and time horizon.</li>
<li>This Insight of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies.</li>
</ul>


Over the past five trading days, Xiaomi Corp (1810 HK) multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.
Popular Strategies: Diagonal Spreads account for 27%of all strategies. This versatile strategy allows for many different profiles in terms of upfront premium (positive or negative), and time horizon.
This Insight of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies.


Xiaomi (1810 HK): Strategic Insights and Top Option Trades

Hong Kong

The Hang Seng TECH Index aims to represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Innovative Tech Themes.

Hang Seng TECH Index (HSTECH INDEX EQUITY)

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52-week Range	0.00 - 0.00
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Hang Seng TECH Index (HSTECH INDEX EQUITY)

JD.com (9618 HK) Top Option Trades: Bullish Butterfly Stands Out Amond Bearish Sentiment

Article highlights various multi-leg option strategies traded in JD.com (9618 HK) over the past five trading days, including an out-of-the-money...

Gaudenz Schneider

Tencent (700 HK): Top Trades and Strategy Insights from Options Trading

Tencent's multi-leg option trades reveal a diverse range of strategies. Insights on market sentiment and actionable examples provided.

Gaudenz Schneider

Alibaba (9988 HK): Top Trades and Strategic Insights from Options Trading

Insights on market sentiment and actionable examples. Alibaba multi-leg option strategies show popularity of Diagonal Spreads with short-term...

Gaudenz Schneider

Alibaba (9988 HK) Options Insights: Navigating Contango and Skew for Profitable Trades

Analysis of Alibaba's implied volatility surface shows historically cheap implied volatility and favorable skew structure for spread strategies.

Gaudenz Schneider

Xiaomi (1810 HK): Strategic Insights and Top Option Trades

Xiaomi Corp's multi-leg option strategies offer diverse approaches, with Diagonal Spreads being popular. Insights into complex strategies reveal...

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JD.com (9618 HK) Top Option Trades: Bullish Butterfly Stands Out Amond Bearish Sentiment

​Article highlights various multi-leg option strategies traded in JD.com (9618 HK) over the past five trading days, including an out-of-the-money...

Gaudenz Schneider

Tencent (700 HK): Top Trades and Strategy Insights from Options Trading

​Tencent's multi-leg option trades reveal a diverse range of strategies. Insights on market sentiment and actionable examples provided.

Gaudenz Schneider

Alibaba (9988 HK): Top Trades and Strategic Insights from Options Trading

Insights on market sentiment and actionable examples. ​Alibaba multi-leg option strategies show popularity of Diagonal Spreads with short-term...

Gaudenz Schneider

Alibaba (9988 HK) Options Insights: Navigating Contango and Skew for Profitable Trades

​Analysis of Alibaba's implied volatility surface shows historically cheap implied volatility and favorable skew structure for spread strategies.

Gaudenz Schneider

Xiaomi (1810 HK): Strategic Insights and Top Option Trades

​Xiaomi Corp's multi-leg option strategies offer diverse approaches, with Diagonal Spreads being popular. Insights into complex strategies reveal...

Gaudenz Schneider

Article highlights various multi-leg option strategies traded in JD.com (9618 HK) over the past five trading days, including an out-of-the-money...

Tencent's multi-leg option trades reveal a diverse range of strategies. Insights on market sentiment and actionable examples provided.

Insights on market sentiment and actionable examples. Alibaba multi-leg option strategies show popularity of Diagonal Spreads with short-term...

Analysis of Alibaba's implied volatility surface shows historically cheap implied volatility and favorable skew structure for spread strategies.

Xiaomi Corp's multi-leg option strategies offer diverse approaches, with Diagonal Spreads being popular. Insights into complex strategies reveal...