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

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>There are multiple signs of overheating in Baidu trading including accelerating stock and option volumes.  </li>
<li>Skew has been driven higher by strong demand for up-strike Calls.</li>
<li>We recommend a hedge that tilts the odds in the holder’s favor while establishing the position at a credit.</li>
</ul>


There are multiple signs of overheating in Baidu trading including accelerating stock and option volumes.  
Skew has been driven higher by strong demand for up-strike Calls.
We recommend a hedge that tilts the odds in the holder’s favor while establishing the position at a credit.


Baidu (9888.HK): Overheated Trading and Skew Dynamics Highlight a Distinct Hedge Opportunity