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>Big increase in single stock volumes particularly Puts which pushed the single stock put call ratio over 1 for the first time since early November.</li>
<li>Heavy Put trading in the Financial Sector especially with ICBC and CCB.</li>
<li>Health Care, Energy and Materials are the 3 sectors seeing higher Put trading vs Calls and are also the 3 sectors with the lowest 3M implied vol 1 year percentile.</li>
</ul>


Big increase in single stock volumes particularly Puts which pushed the single stock put call ratio over 1 for the first time since early November.
Heavy Put trading in the Financial Sector especially with ICBC and CCB.
Health Care, Energy and Materials are the 3 sectors seeing higher Put trading vs Calls and are also the 3 sectors with the lowest 3M implied vol 1 year percentile.


EQD | Hong Kong Single Stock Options Weekly Dec 30 – Jan 03

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>BeiGene has received FDA approved for Tevimbra for the first-line treatment of certain types of gastric cancers. Innovent announced a collaboration and exclusive license agreement with Roche for an ADC.</li>
<li>CSPC Pharmaceutical got clinical trial approval in China for Leuprorelin extended-release Injection. Sichuan Kelun-Biotech received China approval for tagitanlimab in nasopharyngeal cancer.</li>
<li>Hutchmed China is divesting its 45% equity interest in joint venture for $608M. Yuhan Corp has received European approval for its lung cancer drug Leclaza.</li>
</ul>


BeiGene has received FDA approved for Tevimbra for the first-line treatment of certain types of gastric cancers. Innovent announced a collaboration and exclusive license agreement with Roche for an ADC.
CSPC Pharmaceutical got clinical trial approval in China for Leuprorelin extended-release Injection. Sichuan Kelun-Biotech received China approval for tagitanlimab in nasopharyngeal cancer.
Hutchmed China is divesting its 45% equity interest in joint venture for $608M. Yuhan Corp has received European approval for its lung cancer drug Leclaza.


APAC Healthcare Weekly (Jan 5)- Beigene, Innovent Biologics, CSPC Pharma, Hutchmed, Yuhan, Lupin

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 analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 3rd based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Anta Sports Products (2020 HK), AIA (1299 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Anta Sports Products (2020 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jan 3rd based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Anta Sports Products (2020 HK), AIA (1299 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Anta Sports Products (2020 HK).


Hong Kong Buybacks Weekly (Jan 3rd): Tencent, Anta Sports Products, AIA

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into CCB, Alibaba, China Mobile, ICBC, ABC.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into CCB, Alibaba, China Mobile, ICBC, ABC.


Hong Kong Connect Flows (December): $10.7bn Inflows Led by Banks

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Dec 20th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Tencent,  Weimob, AIA, Jd, Hkex.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Dec 20th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Tencent,  Weimob, AIA, Jd, Hkex.


HK Short Interest Weekly: Tencent, Weimob, AIA, Jd, Hkex

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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

Tencent Holdings (ADR) (TCEHY US)

EQD | Hong Kong Single Stock Options Weekly Dec 30 – Jan 03

Single stock put volumes are on the rise, pushing the put call ratio over 1 for the first time since November. Heavy put trading in financial...

John Ley

APAC Healthcare Weekly (Jan 5)- Beigene, Innovent Biologics, CSPC Pharma, Hutchmed, Yuhan, Lupin

APAC healthcare companies got approvals for new products as well as clinical trials. The companies continued with acquisitions and collaborations...

Tina Banerjee

Hong Kong Buybacks Weekly (Jan 3rd): Tencent, Anta Sports Products, AIA

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (December): $10.7bn Inflows Led by Banks

We analyzed the Hong Kong Connect Scheme for December and highlighted flows for CCB, Alibaba, China Mobile, ICBC, ABC, Meituan, Kuaishou, Wuxi...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Tencent, Weimob, AIA, Jd, Hkex

We analyzed the latest HK SFC report for aggregate short position as of Dec 20th and highlight short interest changes in Tencent, Weimob, AIA, Jd,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

EQD | Hong Kong Single Stock Options Weekly Dec 30 – Jan 03

​Single stock put volumes are on the rise, pushing the put call ratio over 1 for the first time since November. Heavy put trading in financial...

John Ley

APAC Healthcare Weekly (Jan 5)- Beigene, Innovent Biologics, CSPC Pharma, Hutchmed, Yuhan, Lupin

APAC healthcare companies got approvals for new products as well as clinical trials. The companies continued with acquisitions and collaborations...

Tina Banerjee

Hong Kong Buybacks Weekly (Jan 3rd): Tencent, Anta Sports Products, AIA

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (December): $10.7bn Inflows Led by Banks

We analyzed the Hong Kong Connect Scheme for December and highlighted flows for CCB, Alibaba, China Mobile, ICBC, ABC, Meituan, Kuaishou, Wuxi...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Tencent, Weimob, AIA, Jd, Hkex

We analyzed the latest HK SFC report for aggregate short position as of Dec 20th and highlight short interest changes in Tencent, Weimob, AIA, Jd,...

Ke Yan, CFA, FRM

Single stock put volumes are on the rise, pushing the put call ratio over 1 for the first time since November. Heavy put trading in financial...