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>Mixed bag with narrowing participation, widening distribution of returns but with the highest total option volume since November.</li>
<li>Option volumes over the past 2 weeks are 80% higher than the prior 3-month average.</li>
<li>Implied vols weaker across the board with 9 of 11 sectors seeing softer implieds.</li>
</ul>


Mixed bag with narrowing participation, widening distribution of returns but with the highest total option volume since November.
Option volumes over the past 2 weeks are 80% higher than the prior 3-month average.
Implied vols weaker across the board with 9 of 11 sectors seeing softer implieds.


Hong Kong Single Stock Options Weekly (February 17 – 21): Option Volumes Surge as Rally Narrows

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Shinko Electric Industries / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shinko-electric-industries" target="_blank" data-smartkarma-citation="entities:15066:1" rel="noopener">Shinko Electric Industries (6967 JP)</a>. Done. Finally. Look at whether you could borrow shares just before the close of the tender and short tender and buy back post ex-date</li>
<li>
<a href="https://www.smartkarma.com/entities/rea-group-ltd" target="_blank" data-smartkarma-citation="entities:699:1" rel="noopener">REA Group Ltd (REA AU)</a> rolls over as <a href="https://www.smartkarma.com/entities/costar-group-inc" target="_blank" data-smartkarma-citation="entities:16907:1" rel="noopener">Costar Group (CSGP US)</a> bets big on key rival Domain <a href="https://www.smartkarma.com/entities/domain-holdings-australia-ltd" target="_blank" data-smartkarma-citation="entities:26033:1" rel="noopener">Domain Holdings Australia (DHG AU)</a>.</li>
<li>
<a href="https://www.smartkarma.com/entities/macromill-inc" target="_blank" data-smartkarma-citation="entities:24026:1" rel="noopener">Macromill (3978 JP)</a>'s tender extended. Still not a done deal. Look to buy shares at terms with the goal of NOT tendering and owning the back end.</li>
</ul>



Shinko Electric Industries (6967 JP). Done. Finally. Look at whether you could borrow shares just before the close of the tender and short tender and buy back post ex-date

REA Group Ltd (REA AU) rolls over as Costar Group (CSGP US) bets big on key rival Domain Domain Holdings Australia (DHG AU).

Macromill (3978 JP)'s tender extended. Still not a done deal. Look to buy shares at terms with the goal of NOT tendering and owning the back end.


Last Week in Event SPACE: Shinko Electric, REA Group, Macromill, CNBM, Prosus/Tencent

<ul>
<li>I tally 58 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma.</li>
<li>Four new deals discussed this week: <a href="https://www.smartkarma.com/entities/domain-holdings-australia-ltd" target="_blank" data-smartkarma-citation="entities:26033:1" rel="noopener">Domain Holdings Australia (DHG AU)</a>, <a href="https://www.smartkarma.com/entities/mayne-pharma-group-ltd" target="_blank" data-smartkarma-citation="entities:757:1" rel="noopener">Mayne Pharma (MYX AU)</a>, <a href="https://www.smartkarma.com/entities/tam-jai-international-co-ltd" target="_blank" data-smartkarma-citation="entities:34227:1" rel="noopener">Tam Jai International (2217 HK)</a>, and <a href="https://www.smartkarma.com/entities/pec-ltd" target="_blank" data-smartkarma-citation="entities:19415:1" rel="noopener">PEC Ltd. (PEC SP)</a>.</li>
<li>Key updates/news took place on: <a href="https://www.smartkarma.com/entities/canvest-environmental-protection-group-co-ltd" target="_blank" data-smartkarma-citation="entities:100:1" rel="noopener">Canvest Environmental Protection Group (1381 HK)</a>,<a href="https://www.smartkarma.com/entities/fuji-soft-inc" target="_blank" data-smartkarma-citation="entities:17504:1" rel="noopener">Fuji Soft Inc (9749 JP)</a>, and <a href="https://www.smartkarma.com/entities/proto-corp" target="_blank" data-smartkarma-citation="entities:2511:1" rel="noopener">Proto Corp (4298 JP)</a>.</li>
</ul>


I tally 58 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma.
Four new deals discussed this week: Domain Holdings Australia (DHG AU), Mayne Pharma (MYX AU), Tam Jai International (2217 HK), and PEC Ltd. (PEC SP).
Key updates/news took place on: Canvest Environmental Protection Group (1381 HK),Fuji Soft Inc (9749 JP), and Proto Corp (4298 JP).


(Mostly) Asia-Pac M&A: Domain Holdings, Mayne Pharma, Tam Jai, PEC Ltd, Canvest, Fuji Soft, Proto

<ul>
<li>Complete rally mode across single stocks and sectors with the 3 highest single stock option volumes of the past 3 months recorded.</li>
<li>More than 25% of issues experience more than 100% increase in options volume. </li>
<li>We highlight names with the largest increases in both Put and Call volumes including Alibaba, Alibaba Health, AIA, China telecom and Kingdee.</li>
</ul>


Complete rally mode across single stocks and sectors with the 3 highest single stock option volumes of the past 3 months recorded.
More than 25% of issues experience more than 100% increase in options volume. 
We highlight names with the largest increases in both Put and Call volumes including Alibaba, Alibaba Health, AIA, China telecom and Kingdee.


EQD | Hong Kong Single Stock Options Weekly (Feb 10 – 14):  Strong Option Volumes Fuel Rally

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>DeepSeek, as a domestically produced open-source model in China, combined with the rapid development of AI technology, is profoundly changing the landscape of pharmaceutical and medical industry.</li>
<li>AI pharmaceuticals/AI diagnosis/AI R&amp;D would benefit the most from DeepSeek. However, data security is an issue. The US has enacted legislation to restrict cooperation with Chinese companies due to DeepSeek.</li>
<li>More and more Chinese companies have announced their integration into DeepSeek, involving multiple subsectors. We listed some representative companies and they will become attractive investment targets for investors.</li>
</ul>


DeepSeek, as a domestically produced open-source model in China, combined with the rapid development of AI technology, is profoundly changing the landscape of pharmaceutical and medical industry.
AI pharmaceuticals/AI diagnosis/AI R&amp;D would benefit the most from DeepSeek. However, data security is an issue. The US has enacted legislation to restrict cooperation with Chinese companies due to DeepSeek.
More and more Chinese companies have announced their integration into DeepSeek, involving multiple subsectors. We listed some representative companies and they will become attractive investment targets for investors.


DeepSeek Ignites China Healthcare - The Investment Opportunities and Risks Behind

China

Ping An Healthcare and Technology Company Limited provides health care software solutions. The Company offers mobile platform for online consultation, hospital referral and appointment, health management, and wellness interaction services, as well as connects consumers and patients with health care resources. Ping An Healthcare and Technology serves customers in China.

Ping An Healthcare and Technology (1833 HK)

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

Ping An Healthcare and Technology (1833 HK)

Hong Kong Single Stock Options Weekly (February 17 – 21): Option Volumes Surge as Rally Narrows

Option volumes have surged in recent weeks, with narrowing participation and softer implied volatility in most sectors.

John Ley

Last Week in Event SPACE: Shinko Electric, REA Group, Macromill, CNBM, Prosus/Tencent

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

(Mostly) Asia-Pac M&A: Domain Holdings, Mayne Pharma, Tam Jai, PEC Ltd, Canvest, Fuji Soft, Proto

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

EQD | Hong Kong Single Stock Options Weekly (Feb 10 – 14): Strong Option Volumes Fuel Rally

Powerful rally across stocks with exceptionally high option volumes indicating that the price action mya be getting frothy.

John Ley

DeepSeek Ignites China Healthcare - The Investment Opportunities and Risks Behind

DeepSeek is revolutionizing the healthcare industry, but face data security issue and US restriction on cooperation with China.Companies...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Single Stock Options Weekly (February 17 – 21): Option Volumes Surge as Rally Narrows

​Option volumes have surged in recent weeks, with narrowing participation and softer implied volatility in most sectors.

John Ley

Last Week in Event SPACE: Shinko Electric, REA Group, Macromill, CNBM, Prosus/Tencent

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

(Mostly) Asia-Pac M&A: Domain Holdings, Mayne Pharma, Tam Jai, PEC Ltd, Canvest, Fuji Soft, Proto

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

EQD | Hong Kong Single Stock Options Weekly (Feb 10 – 14): Strong Option Volumes Fuel Rally

Powerful rally across stocks with exceptionally high option volumes indicating that the price action mya be getting frothy.

John Ley

DeepSeek Ignites China Healthcare - The Investment Opportunities and Risks Behind

DeepSeek is revolutionizing the healthcare industry, but face data security issue and US restriction on cooperation with China.Companies...

Xinyao (Criss) Wang

Option volumes have surged in recent weeks, with narrowing participation and softer implied volatility in most sectors.