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

S&P/ASX 200:  All-Time Highs, Complacent Vols and a Tactical Hedge with a Relative Value Edge

Hong Kong Single Stock Options (June 09 – 13): Strong Breadth but Put Positioning Trending Higher

Kospi200: Elevated Returns, Historical Extremes and Optionality Opportunity

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>Most major indices extended their April rally through May, but seasonal patterns suggest caution from here.</li>
<li>Implied volatility declined across most markets, but remains above historical medians in several key regions.</li>
<li>Vol premium analysis highlights a few standouts where short vol has historically outperformed.</li>
</ul>


Most major indices extended their April rally through May, but seasonal patterns suggest caution from here.
Implied volatility declined across most markets, but remains above historical medians in several key regions.
Vol premium analysis highlights a few standouts where short vol has historically outperformed.


Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY)

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

Global Macro Outlook (June): From Rally to Reversal? Macro Trends Shift as June Unfolds

Gold

Global Macro Outlook (June): From Rally to Reversal? Macro Trends Shift as June Unfolds