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>We revisit key cross-asset signals as traditional safe havens fail to respond in familiar ways.</li>
<li>The past 8 days have delivered a combination of asset moves with few, if any,  historical parallels.</li>
<li>With trust in U.S. safe haven assets under pressure, we explore emerging themes and ramifications.</li>
</ul>


We revisit key cross-asset signals as traditional safe havens fail to respond in familiar ways.
The past 8 days have delivered a combination of asset moves with few, if any,  historical parallels.
With trust in U.S. safe haven assets under pressure, we explore emerging themes and ramifications.


Global Markets: Why This Sell-Off Is Different. UPDATE

<ul>
<li>Nifty remains the global market with the lowest implied volatility and has been outperforming its peers in this sell off.</li>
<li>We assess where Nifty is likely to open on Monday and the expected impact on implied vol and discuss whether hedging should be considered. </li>
<li>We highlight the absence of a flight-to-quality bid in this global meltdown and what that could mean for relative returns vs. the SP500.</li>
</ul>


Nifty remains the global market with the lowest implied volatility and has been outperforming its peers in this sell off.
We assess where Nifty is likely to open on Monday and the expected impact on implied vol and discuss whether hedging should be considered. 
We highlight the absence of a flight-to-quality bid in this global meltdown and what that could mean for relative returns vs. the SP500.


Nifty Index Options Weekly (Apr 01 – 04): Lowest Implied Vol Amid a Global Meltdown

Maxis Nikkei 225 Index Fund / Equity Derivatives

<ul>
<li>Volatility percentiles are flashing, and we explore what recent price action could signal for the week ahead.</li>
<li>Put activity surged, with especially heavy interest on Thursday and Friday and concentrated in short dates expiries.</li>
<li>We highlight the potential for equity market volatility to spill over into currency markets.</li>
</ul>


Volatility percentiles are flashing, and we explore what recent price action could signal for the week ahead.
Put activity surged, with especially heavy interest on Thursday and Friday and concentrated in short dates expiries.
We highlight the potential for equity market volatility to spill over into currency markets.


Nikkei Index Options Weekly Mar 31 – Apr 04): Volatility Elevated, Put Demand Surges

<ul>
<li>The SP500 and DXY both dropped yesterday—historically an unusual development.</li>
<li>We examine the SP500-DXY relationship alongside long-term shifts in capital flow and what this could mean for global markets vs SP500.</li>
<li>A distinct performance trend that began in 2009 may now be in the process of reversing.</li>
</ul>


The SP500 and DXY both dropped yesterday—historically an unusual development.
We examine the SP500-DXY relationship alongside long-term shifts in capital flow and what this could mean for global markets vs SP500.
A distinct performance trend that began in 2009 may now be in the process of reversing.


Global Markets: Why This Sell-Off Is Different and What It Signals

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

FX & Rates

<ul><li>Market is seeing an uptick in CNY fixing, potentially halting the DXY bear trend temporarily</li><li>Investors are focused on upcoming tariff event risk on April 2, leading to de-risking behavior</li><li>Various potential scenarios for tariff implementation and FX response, with uncertainty around delivery and impact of tariffs on different sectors and countries</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Market is seeing an uptick in CNY fixing, potentially halting the DXY bear trend temporarilyInvestors are focused on upcoming tariff event risk on April 2, leading to de-risking behaviorVarious potential scenarios for tariff implementation and FX response, with uncertainty around delivery and impact of tariffs on different sectors and countriesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global FX: What to expect when you are expecting tariffs (again)

United States

The U.S. Dollar Index(USDX) indicates the general int'l value of the USD. The USDX does this by averaging the exchange rates between the USD and  major world currencies.  The ICE US computes this by using the rates supplied by some 500 banks. FOR REAL TIME SEE EIS ICEA<GO>. 

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

Dollar Index (DXY CURNCY)

Global Markets: Why This Sell-Off Is Different. UPDATE

Traditional safe havens are not responding as expected, leading to unprecedented asset moves and questioning trust in U.S. safe haven assets.

John Ley

Nifty Index Options Weekly (Apr 01 – 04): Lowest Implied Vol Amid a Global Meltdown

Nifty outperforms global markets with low volatility, potential impact on Monday's opening, and lack of flight-to-quality bid discussed for...

John Ley

Nikkei Index Options Weekly Mar 31 – Apr 04): Volatility Elevated, Put Demand Surges

Recent volatility percentiles suggest potential market movement ahead. We highlight the potential for spillover of equity market volatility into...

John Ley

Global Markets: Why This Sell-Off Is Different and What It Signals

The recent drop in both the SP500 and DXY signals a potential shift in long-term capital flow trends, impacting global markets.

John Ley

Global FX: What to expect when you are expecting tariffs (again)

Market participants are closely watching the impact of CNY fixing, de-risking ahead of tariff events, and the uncertain response of FX to potential...

At Any Rate

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Markets: Why This Sell-Off Is Different. UPDATE

​Traditional safe havens are not responding as expected, leading to unprecedented asset moves and questioning trust in U.S. safe haven assets.

John Ley

Nifty Index Options Weekly (Apr 01 – 04): Lowest Implied Vol Amid a Global Meltdown

​Nifty outperforms global markets with low volatility, potential impact on Monday's opening, and lack of flight-to-quality bid discussed for...

John Ley

Nikkei Index Options Weekly Mar 31 – Apr 04): Volatility Elevated, Put Demand Surges

​Recent volatility percentiles suggest potential market movement ahead. We highlight the potential for spillover of equity market volatility into...

John Ley

Global Markets: Why This Sell-Off Is Different and What It Signals

​The recent drop in both the SP500 and DXY signals a potential shift in long-term capital flow trends, impacting global markets.

John Ley

Global FX: What to expect when you are expecting tariffs (again)

Market participants are closely watching the impact of CNY fixing, de-risking ahead of tariff events, and the uncertain response of FX to potential...

At Any Rate

Traditional safe havens are not responding as expected, leading to unprecedented asset moves and questioning trust in U.S. safe haven assets.

Nifty outperforms global markets with low volatility, potential impact on Monday's opening, and lack of flight-to-quality bid discussed for...

Recent volatility percentiles suggest potential market movement ahead. We highlight the potential for spillover of equity market volatility into...

The recent drop in both the SP500 and DXY signals a potential shift in long-term capital flow trends, impacting global markets.