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

EQD | Asia January Vol Roadmap:    Outsized Moves, Outsized Volatility

EQD | KOSPI 200 Index – Buy January Straddle

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>Weak price action to start the year for the Nikkei with little direction from USD/JPY which was grinding higher throughout the week.</li>
<li>Volatility at the start of the week helped push short term historic vol higher with at-the-money implied vol up about 1 point.</li>
<li>Volumes picked up substantially over year-end levels with Puts making up 53.5% of all contracts traded.</li>
</ul>


Weak price action to start the year for the Nikkei with little direction from USD/JPY which was grinding higher throughout the week.
Volatility at the start of the week helped push short term historic vol higher with at-the-money implied vol up about 1 point.
Volumes picked up substantially over year-end levels with Puts making up 53.5% of all contracts traded.


EQD | Nikkei Index Options Weekly - January 06 - 10

Nikkei 225

EQD | Nikkei Index Options Weekly - January 06 - 10