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 INDEX Tactical Outlook and Profit Targets for This Rally

Australia Single Stock Options (Jan 12–16): Materials Dominate Amid Compressed Implied Correlations

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>Hong Kong equities continue to trade in an unusually subdued environment, with tight index ranges reinforcing the absence of strong directional conviction.</li>
<li>Correlation measures continue to soften, pointing to a stock picking environment rather than broad index driven moves.</li>
<li>The current backdrop reflects indecision rather than stress, with volatility easing alongside range bound prices.</li>
</ul>


Hong Kong equities continue to trade in an unusually subdued environment, with tight index ranges reinforcing the absence of strong directional conviction.
Correlation measures continue to soften, pointing to a stock picking environment rather than broad index driven moves.
The current backdrop reflects indecision rather than stress, with volatility easing alongside range bound prices.


Hong Kong Single Stock Options Weekly (Jan 19 – 23): Tight Index Range Masks Stock-Pickers Market

Hang Seng Index

Hong Kong Single Stock Options Weekly (Jan 19 – 23): Tight Index Range Masks Stock-Pickers Market