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>Heavy trading in Hong Kong single stocks and weak breadth highlight the week’s trading.</li>
<li>Communication Services stood out as the primary driver of options activity, with Tencent central to the volume surge.</li>
<li>Implied volatility across single stocks and the index moved higher in tandem.</li>
</ul>


Heavy trading in Hong Kong single stocks and weak breadth highlight the week’s trading.
Communication Services stood out as the primary driver of options activity, with Tencent central to the volume surge.
Implied volatility across single stocks and the index moved higher in tandem.


Hong Kong Single Stock Options Weekly (Feb 02 – 06): Tencent Options Activity Surges

<ul>
<li>Hong Kong equities saw a decisive breakout attempt, followed by a sharp late week reversal that tested market conviction after several days of broad participation.</li>
<li>Correlations increased as participation widened, with most stocks moving together during both the advance and the subsequent reversal.</li>
<li>Single stock option volumes were broadly higher with the Financial Sector leading the way.</li>
</ul>


Hong Kong equities saw a decisive breakout attempt, followed by a sharp late week reversal that tested market conviction after several days of broad participation.
Correlations increased as participation widened, with most stocks moving together during both the advance and the subsequent reversal.
Single stock option volumes were broadly higher with the Financial Sector leading the way.


Hong Kong Single Stock Options Weekly (Jan 26-30): Breakout Fades as Commodities Unwind in NA Trade

<ul>
<li>Stocks were broadly lower, giving back last Friday’s rally with breadth continuing weak.</li>
<li>We present new data showing average single stock implied vols.</li>
<li>Average Single stock implied vols are reaching levels last seen before a major decline.</li>
</ul>


Stocks were broadly lower, giving back last Friday’s rally with breadth continuing weak.
We present new data showing average single stock implied vols.
Average Single stock implied vols are reaching levels last seen before a major decline.


Hong Kong Single Stock Options Weekly (Dec 15–19): Fragile Internals Meet Depressed Impiled Vols

<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

<ul>
<li>A renewed tariff threat from Trump sparked a sharp, sell-off across North American Equity markets.</li>
<li>The sell off was broad based and accordingly we look at the performance of Asian Index ETF’s that trade in North America to help prepare for Monday’s price action.</li>
<li>Implied volatility, price and option volume are displayed for each symbol.</li>
</ul>


A renewed tariff threat from Trump sparked a sharp, sell-off across North American Equity markets.
The sell off was broad based and accordingly we look at the performance of Asian Index ETF’s that trade in North America to help prepare for Monday’s price action.
Implied volatility, price and option volume are displayed for each symbol.


Market Sell-Off (Oct 10): How Asian Index ETFs Responded to Market Slide

Hong Kong

iShares MSCI Hong Kong ETF is an exchange-traded fund incorporated in the USA. The ETF's objective seeks to provide investment results that correspond to the performance of publicly traded securities in the Hong Kong market, as measured by the MSCI Hong Kong Index. The ETF invests in a representative sample of index stocks using a "portfolio sampling" technique.

iShares MSCI Hong Kong ETF (EWH US)

Hong Kong Single Stock Options Weekly (Feb 02 – 06): Tencent Options Activity Surges

Tencent drove a sharp surge in options activity this week, even as overall single stock volumes remained steady and implied volatility across...

John Ley

Hong Kong Single Stock Options Weekly (Jan 26-30): Breakout Fades as Commodities Unwind in NA Trade

The long held range broke this week but was rejected at the end of the week. The upcoming week looks interesting with weakness in North America...

John Ley

Hong Kong Single Stock Options Weekly (Dec 15–19): Fragile Internals Meet Depressed Impiled Vols

Weak breadth and softer prices defined the week as single stock implied vols drifted toward historically low levels, creating a more fragile...

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

Market Sell-Off (Oct 10): How Asian Index ETFs Responded to Market Slide

The powerful surge in the silver price on Friday, which propelled it to new multi-year highs, has drawn significant market attention to placing...

John Ley