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

Macro Monthly July 2026: Nifty Seasonality Improves While Nikkei and Oil Screen as Outliers

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>The market’s recovery broadened further, supported by strong participation across stocks and a pickup in single stock option activity.</li>
<li>Single stock implied vols remain elevated relative to their recent history despite a slight easing during the week.</li>
<li>Alibaba stood out for strong price and option activity, with trading spread broadly across strikes and expiries.</li>
</ul>


The market’s recovery broadened further, supported by strong participation across stocks and a pickup in single stock option activity.
Single stock implied vols remain elevated relative to their recent history despite a slight easing during the week.
Alibaba stood out for strong price and option activity, with trading spread broadly across strikes and expiries.


Hong Kong Single Stock Options Weekly July 06–10: Alibaba Stands Out as the Rebound Broadens

Hang Seng Index

Hong Kong Single Stock Options Weekly July 06–10: Alibaba Stands Out as the Rebound Broadens