In today’s briefing:
- Potential Spillover Trades from Next Month’s KOSDAQ150 Weeklies Launch
- Klarna IPO Valuation Update: Risk/Reward Profile Looks Good, Sequoia Stands To Be The Largest Winner
Potential Spillover Trades from Next Month’s KOSDAQ150 Weeklies Launch
- KRX plans to list KOSDAQ150 weekly options next month, likely October 27, and is lining up market makers to ensure two-way liquidity from day one.
- Early volumes for KOSDAQ150 weeklies will be thin, making MMs cautious, but some may step in despite risks.
- Early KOSDAQ150 weeklies could trigger spillover trades, as thin volumes and active MMs lead to IV–spot gaps, price dislocations, and triangular arbitrage opportunities.
Klarna IPO Valuation Update: Risk/Reward Profile Looks Good, Sequoia Stands To Be The Largest Winner
- Klarna Group plc, a Swedish fintech giant and largest BNPL player in European Union, is expected to price $1B+ initial public offering next week.
- The company’s amended F-1 puts the initial price range per share at $35 to $37, implying a market cap of ~$13.6B at midpoint, down ~70% from peak valuation of ~$46B.
- I think risk/reward profile is favorable given large consumer and merchant scale, expansion into digital retail banking services and potential revenue growth re-acceleration into 2026.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
