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>AS51 broke out of a tight multi day range Friday with one of the strongest moves of the year.</li>
<li>Relative performance versus SPX has begun to improve, hinting at a potential shift after prolonged underperformance.</li>
<li>SPASX200 1-month implied vol remains pinned near historic lows which could provide an interesting setup into year end.</li>
</ul>


AS51 broke out of a tight multi day range Friday with one of the strongest moves of the year.
Relative performance versus SPX has begun to improve, hinting at a potential shift after prolonged underperformance.
SPASX200 1-month implied vol remains pinned near historic lows which could provide an interesting setup into year end.


Australia Single Stock Options (Dec 08–12): AS51 Escapes Range as Relative Performance Vs SPX Turns

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>Increasing US and Australian ties in the critical minerals space provide some opportunities</li>
<li>After the initial hype and capital raisings, better entry prices have arisen</li>
<li>The upside-downside ratio is  high and government support provides a backstop</li>
</ul>


Increasing US and Australian ties in the critical minerals space provide some opportunities
After the initial hype and capital raisings, better entry prices have arisen
The upside-downside ratio is  high and government support provides a backstop


A Basket of Strategic, Speculative Australian Mining Stocks

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 31st (reported today). The aggregated short interest was USD27.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in CSL, Mineral Resources, Bluescope Steel, ALS, Vicinity Centres Re.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 31st (reported today). The aggregated short interest was USD27.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in CSL, Mineral Resources, Bluescope Steel, ALS, Vicinity Centres Re.


ASX Short Interest Weekly (Oct 31st): CSL, Mineral Resources, Bluescope Steel, ALS

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 24th (reported today). The aggregated short interest was USD27.5bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 24th (reported today). The aggregated short interest was USD27.5bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals.


ASX Short Interest Weekly (Oct 24th): Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently nine pair trade opportunities across four markets and four sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently nine pair trade opportunities across four markets and four sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (27 Oct)

Australia

Iluka Resources Limited is involved in the mining, concentration and separation of mineral sands and titanium minerals. The Company also produces ilmenite and other titani-ferrous concentrates, zircon, and synthetic rutile along with the exploration of coal. Iluka's products are exported throughout the world.

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

Iluka Resources (ILU AU)

Australia Single Stock Options (Dec 08–12): AS51 Escapes Range as Relative Performance Vs SPX Turns

AS51 shows strong breakout, improving relative performance against SPX, low volatility may set up interesting year-end opportunity.

John Ley

A Basket of Strategic, Speculative Australian Mining Stocks

One member of the basket $EMH is up >80% today as it has received confirmation that its Cinovec lithium project in the Czech Republic has been...

Rikki Malik

ASX Short Interest Weekly (Oct 31st): CSL, Mineral Resources, Bluescope Steel, ALS

We analyzed ASX short interest report for the past week and highlight short interest changes in CSL, Mineral Resources, Bluescope Steel, ALS,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Oct 24th): Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals

We analyzed ASX short interest report for the past week and highlight short interest changes in Reece, Bluescope Steel, APA, Transurban, Sigma...

Ke Yan, CFA, FRM

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (27 Oct)

Statistical methodology identifies nine pair trade opportunities across four markets and four sectors, offering unique insights into relative...

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Australia Single Stock Options (Dec 08–12): AS51 Escapes Range as Relative Performance Vs SPX Turns

​AS51 shows strong breakout, improving relative performance against SPX, low volatility may set up interesting year-end opportunity.

John Ley

A Basket of Strategic, Speculative Australian Mining Stocks

One member of the basket $EMH is up >80% today as it has received confirmation that its Cinovec lithium project in the Czech Republic has been...

Rikki Malik

ASX Short Interest Weekly (Oct 31st): CSL, Mineral Resources, Bluescope Steel, ALS

We analyzed ASX short interest report for the past week and highlight short interest changes in CSL, Mineral Resources, Bluescope Steel, ALS,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Oct 24th): Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals

We analyzed ASX short interest report for the past week and highlight short interest changes in Reece, Bluescope Steel, APA, Transurban, Sigma...

Ke Yan, CFA, FRM

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (27 Oct)

​Statistical methodology identifies nine pair trade opportunities across four markets and four sectors, offering unique insights into relative...

Gaudenz Schneider

AS51 shows strong breakout, improving relative performance against SPX, low volatility may set up interesting year-end opportunity.

Statistical methodology identifies nine pair trade opportunities across four markets and four sectors, offering unique insights into relative...