Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Ex-Portfolio Manager with over 25 years of derivatives experience across products and geographies. Specializing in all things Vol - Relative Value volatility trading, Cross-Asset volatility strategies and event handicapping and trading. Develops own proprietary trading tools and analysis.  
Previously: Options Specialist and Market Maker at BMO, Managing Director Global Equity Derivatives at TDS. Most recently, Portfolio Manager of volatility portfolio at Polar Aset Management Partners (> $USD 7 billion multi-strategy hedge fund) focusing on cross-asset relative value volatility and derivative fund overlays.

Equity Derivatives and Volatility Specialist

Curator's Cut: BABA Hedges, Substantive Spin-Offs & Japanese Activist Situations

HSI: Extended Run Faces Hurdles, Hedge Strategies Recommended

Hong Kong Single Stock Options Weekly (Sept 15 – 19): Caution Signs Emerge as HSI Stretches Higher

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>Baba’s recent surge mirrors past rallies, with recent sideways price action raising a caution flag.</li>
<li>Metrics from the options market suggest that sentiment that was overheated has begun to turn.</li>
<li>We explore an alternative hedge that will not cap a continued rally but is less expensive than directly buying Puts in Baba.</li>
</ul>


Baba’s recent surge mirrors past rallies, with recent sideways price action raising a caution flag.
Metrics from the options market suggest that sentiment that was overheated has begun to turn.
We explore an alternative hedge that will not cap a continued rally but is less expensive than directly buying Puts in Baba.


Alibaba (9988.HK): Overheated Momentum and Shifting Sentiment – Constructing a Smarter Hedge