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

<ul>
<li>Early weakness gave way to a late rebound, leaving HSI modestly lower on the week after a choppy but contained trading pattern.</li>
<li>Breadth continued to deteriorate, with fewer than one third of optionable names finishing higher for a second consecutive week. Option volumes continue lower trend.</li>
<li>Pop Mart stood out with a large increase in option volume after heavy selling to start the week.</li>
</ul>


Early weakness gave way to a late rebound, leaving HSI modestly lower on the week after a choppy but contained trading pattern.
Breadth continued to deteriorate, with fewer than one third of optionable names finishing higher for a second consecutive week. Option volumes continue lower trend.
Pop Mart stood out with a large increase in option volume after heavy selling to start the week.


Hong Kong Single Stock Options Weekly (Dec 08–12): Late Support Emerges as Breadth and Volumes Slide

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

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

<ul>
<li>The <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index (HSI INDEX)</a> rally has lost traction since mid-September. The index seems to be approaching a corrective phase.</li>
<li>Our model signaled a modestly overbought state at the end of last week, but the index went down pretty fast this week: it has already breached the median support (25440). </li>
<li>This insight will analyze the model to find support entry zones to play short-term rallies or to take profit from hedges. </li>
</ul>


The Hang Seng Index (HSI INDEX) rally has lost traction since mid-September. The index seems to be approaching a corrective phase.
Our model signaled a modestly overbought state at the end of last week, but the index went down pretty fast this week: it has already breached the median support (25440). 
This insight will analyze the model to find support entry zones to play short-term rallies or to take profit from hedges. 


HSI INDEX Tactical Outlook After the Dec 6 Rebalance

<ul>
<li>Quiet trade across Hong Kong Single Stock this week with HSI’s weekly range near the lows of the year.</li>
<li>Implied vols were mixed and are still clinging to the lowest levels of the year.</li>
<li>Options activity lower week over week, led by declines in Put trading.</li>
</ul>


Quiet trade across Hong Kong Single Stock this week with HSI’s weekly range near the lows of the year.
Implied vols were mixed and are still clinging to the lowest levels of the year.
Options activity lower week over week, led by declines in Put trading.


Hong Kong Single Stock Options Weekly (Dec 01 – 05): Narrow Range, Low Vols and Weaker Put Flow

<ul>
<li>December seasonals across major markets show a generally positive profile, but the path is uneven, with most gains clustering in the final days of the month.</li>
<li>Several markets offer appealing vol selling setups, particularly those with consistently positive December vol premiums and elevated implied levels relative to past outcomes.</li>
<li>Nifty vol appears attractively priced, but its tendency not to monetize in December requires traders to think differently about how they extract value.</li>
</ul>


December seasonals across major markets show a generally positive profile, but the path is uneven, with most gains clustering in the final days of the month.
Several markets offer appealing vol selling setups, particularly those with consistently positive December vol premiums and elevated implied levels relative to past outcomes.
Nifty vol appears attractively priced, but its tendency not to monetize in December requires traders to think differently about how they extract value.


Macro Monthly (December): Seasonal Strength, Vol Selling Edges and a Notable Nifty Setup

<ul>
<li>HSI recovered from last week’s sharp drop, helped by stronger breadth and steady but slower activity ahead of the U.S. holiday.</li>
<li>Implied vols were broadly lower against the back drop of quiet market action.</li>
<li>Materials sector names, with high implied percentiles and recent vol declines, may offer useful starting points for short vol candidates.</li>
</ul>


HSI recovered from last week’s sharp drop, helped by stronger breadth and steady but slower activity ahead of the U.S. holiday.
Implied vols were broadly lower against the back drop of quiet market action.
Materials sector names, with high implied percentiles and recent vol declines, may offer useful starting points for short vol candidates.


Hong Kong Single Stock Options Weekly (Nov 24 – 28): Broad Decline in Implied Vol

Hong Kong

The Hang Seng Index is a free-float capitalization-weighted index of a selection of companies from the Stock Exchange of Hong Kong. The components of the index are divided into four subindices: Commerce and Industry, Finance, Utilities, and Properties. The index was developed with a base level of 100 as of July 31, 1964.

Hang Seng Index (HSI INDEX)

Hong Kong Single Stock Options Weekly (Dec 08–12): Late Support Emerges as Breadth and Volumes Slide

A choppy week for Hong Kong single stocks saw early selling give way to a late rebound, though breadth weakened further and option volumes...

John Ley

HSI INDEX Tactical Outlook After the Dec 6 Rebalance

The Hang Seng Index rally has been losing momentum since mid-September, the index seems to be approaching a corrective phase. The insight...

Nico Rosti

Hong Kong Single Stock Options Weekly (Dec 01 – 05): Narrow Range, Low Vols and Weaker Put Flow

A quiet week for Hong Kong single stocks, with HSI trading in a narrow range, implied vols holding near year lows and options activity sliding, led...

John Ley

Macro Monthly (December): Seasonal Strength, Vol Selling Edges and a Notable Nifty Setup

December’s uneven but historically positive pattern sets the backdrop, with several markets offering strong vol selling edges and Nifty presenting...

John Ley

Hong Kong Single Stock Options Weekly (Nov 24 – 28): Broad Decline in Implied Vol

HSI rebounds with stronger breadth and steady activity, implied vols lower in quiet market. Materials sector may offer short vol opportunities.

John Ley

Hong Kong Single Stock Options Weekly (Dec 08–12): Late Support Emerges as Breadth and Volumes Slide

A choppy week for Hong Kong single stocks saw early selling give way to a late rebound, though breadth weakened further and option volumes...

John Ley

HSI INDEX Tactical Outlook After the Dec 6 Rebalance

​The Hang Seng Index rally has been losing momentum since mid-September, the index seems to be approaching a corrective phase. The insight...

Nico Rosti

Hong Kong Single Stock Options Weekly (Dec 01 – 05): Narrow Range, Low Vols and Weaker Put Flow

A quiet week for Hong Kong single stocks, with HSI trading in a narrow range, implied vols holding near year lows and options activity sliding, led...

John Ley

Macro Monthly (December): Seasonal Strength, Vol Selling Edges and a Notable Nifty Setup

December’s uneven but historically positive pattern sets the backdrop, with several markets offering strong vol selling edges and Nifty presenting...

John Ley

Hong Kong Single Stock Options Weekly (Nov 24 – 28): Broad Decline in Implied Vol

​HSI rebounds with stronger breadth and steady activity, implied vols lower in quiet market. Materials sector may offer short vol opportunities.

John Ley

The Hang Seng Index rally has been losing momentum since mid-September, the index seems to be approaching a corrective phase. The insight...

HSI rebounds with stronger breadth and steady activity, implied vols lower in quiet market. Materials sector may offer short vol opportunities.