Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> gained 9.8% in September MTD and its 2x Leveraged Index rose 18.3%, but redemptions limited AUM growth to 15%.</li>
<li>Units declined across every long-leveraged ETF, while the inverse product added 10% more units despite losing 20.2%.</li>
<li>Annualised 21-day volatility fell from approximately 135% to 42%, coinciding with regulatory restrictions and a collapse in leveraged ETF flows and turnover.</li>
</ul>



Samsung Electronics (005930 KS) gained 9.8% in September MTD and its 2x Leveraged Index rose 18.3%, but redemptions limited AUM growth to 15%.
Units declined across every long-leveraged ETF, while the inverse product added 10% more units despite losing 20.2%.
Annualised 21-day volatility fell from approximately 135% to 42%, coinciding with regulatory restrictions and a collapse in leveraged ETF flows and turnover.


Samsung Elec (005930 KS): Volatility Falls as 2x ETF Trading Activity Slumps

Macroeconomics

<ul>
<li>
Context: Central Bank rate decisions, index changes and political events can move markets and affect volatility. Exchange holidays and option expiration schedules might influence liquidity on these days.</li>
<li>
Highlights: Earnings season keeps several regional markets busy through early to mid-August. Meanwhile, three central banks in the region are scheduled to hold monetary policy meetings spaced across the month.</li>
<li>
Why Read: Plan ahead and take into account known market events when making investment and trading decision.</li>
</ul>



Context: Central Bank rate decisions, index changes and political events can move markets and affect volatility. Exchange holidays and option expiration schedules might influence liquidity on these days.

Highlights: Earnings season keeps several regional markets busy through early to mid-August. Meanwhile, three central banks in the region are scheduled to hold monetary policy meetings spaced across the month.

Why Read: Plan ahead and take into account known market events when making investment and trading decision.


The Month Ahead: Key Events in August 2025

<ul>
<li>
Context: Central Bank rate decisions, index changes and political events can move markets and affect volatility. Exchange holidays and option expiration schedules might influence liquidity on these days.</li>
<li>
Highlights: The week of July 7 to July 11 is packed with the expiration of the pause on reciprocal tariffs, two Central Bank decisions, and options expiries.</li>
<li>
Why Read: Plan ahead and take into account known market events when making investment and trading decision.</li>
</ul>



Context: Central Bank rate decisions, index changes and political events can move markets and affect volatility. Exchange holidays and option expiration schedules might influence liquidity on these days.

Highlights: The week of July 7 to July 11 is packed with the expiration of the pause on reciprocal tariffs, two Central Bank decisions, and options expiries.

Why Read: Plan ahead and take into account known market events when making investment and trading decision.


<ul>
<li>
Central Bank Rate Decisions, including from the Reserve Bank of India (RBI), the Bank of Japan, and the Fed.</li>
<li>
Index Rebalancings for the Australian, Indian, Hong Kong, and US benchmark indices. </li>
<li>
Elections: South Korea Presidential Elections on 3 June; potential for the opposition party to win the presidency.</li>
</ul>



Central Bank Rate Decisions, including from the Reserve Bank of India (RBI), the Bank of Japan, and the Fed.

Index Rebalancings for the Australian, Indian, Hong Kong, and US benchmark indices. 

Elections: South Korea Presidential Elections on 3 June; potential for the opposition party to win the presidency.


Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Thematic (Sector/Industry)

<ul>
<li>The main issue with IFRS 18 is that it counts non-regular items like asset sales or FX gains as operating profit, potentially misleading investors about a company’s actual business performance.</li>
<li>As the Korean market might re-rate, companies with solid English IR materials could attract more global attention, creating trading opportunities, while others might face a significant flow gap.</li>
<li>As Blue Orca’s Soren Aandahl noted, small- and mid-cap stocks, especially those with English IR updates, could drive trading flows as the 2027 IFRS 18 rollout approaches.</li>
</ul>


The main issue with IFRS 18 is that it counts non-regular items like asset sales or FX gains as operating profit, potentially misleading investors about a company’s actual business performance.
As the Korean market might re-rate, companies with solid English IR materials could attract more global attention, creating trading opportunities, while others might face a significant flow gap.
As Blue Orca’s Soren Aandahl noted, small- and mid-cap stocks, especially those with English IR updates, could drive trading flows as the 2027 IFRS 18 rollout approaches.


New Trading Angle for Korean Market Re-Rating: Flow Gap from English IR Materials

South Korea

KOSDAQ 150 Index is a base index for futures trading to hedge risks in KOSDAQ market. Base period and base index : Jan 4, 2010, 1,000p

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

KOSDAQ 150 Index (KOSDQ150 INDEX EQUITY)

Samsung Elec (005930 KS): Volatility Falls as 2x ETF Trading Activity Slumps

Despite positive performance, redemptions persisted across long-leveraged ETFs, while the inverse product attracted new units. Falling activity...

Gaudenz Schneider

The Month Ahead: Key Events in August 2025

Three central banks (India, Australia, South Korea) decide on rates. Earnings season continues in South Korea, Japan, Hong Kong, and India, and is...

Gaudenz Schneider

The Month Ahead: Key Events in July 2025

Market volatility can be influenced by Central Bank decisions, index changes, and political events. Plan ahead for investment and trading decisions.

Gaudenz Schneider

The Month Ahead: Key Events in June 2025

Central bank rate decisions, index rebalancings, and upcoming South Korea presidential elections are key events to watch for in Asia-Pacific in June.

Gaudenz Schneider

New Trading Angle for Korean Market Re-Rating: Flow Gap from English IR Materials

This post discusses a new trading angle for the Korean stock market re-rating: the flow gap created by providing English IR materials.

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Samsung Elec (005930 KS): Volatility Falls as 2x ETF Trading Activity Slumps

Despite positive performance, redemptions persisted across long-leveraged ETFs, while the inverse product attracted new units. Falling activity...

Gaudenz Schneider

The Month Ahead: Key Events in August 2025

Three central banks (India, Australia, South Korea) decide on rates. Earnings season continues in South Korea, Japan, Hong Kong, and India, and is...

Gaudenz Schneider

The Month Ahead: Key Events in July 2025

​Market volatility can be influenced by Central Bank decisions, index changes, and political events. Plan ahead for investment and trading decisions.

Gaudenz Schneider

The Month Ahead: Key Events in June 2025

​Central bank rate decisions, index rebalancings, and upcoming South Korea presidential elections are key events to watch for in Asia-Pacific in June.

Gaudenz Schneider

New Trading Angle for Korean Market Re-Rating: Flow Gap from English IR Materials

This post discusses a new trading angle for the Korean stock market re-rating: the flow gap created by providing English IR materials.

Sanghyun Park

Market volatility can be influenced by Central Bank decisions, index changes, and political events. Plan ahead for investment and trading decisions.

Central bank rate decisions, index rebalancings, and upcoming South Korea presidential elections are key events to watch for in Asia-Pacific in June.