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 Tactical Outlook: Rally Nearly Over — What Happens Next?

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>Semiconductor weakness continued to weigh heavily on the market and left Information Technology lagging other sectors.</li>
<li>Market breadth remained positive, although the distribution of returns showed considerably greater weakness among the largest decliners.</li>
<li>Index implied vols remained firm while single stock implied vols continued to normalize, narrowing the unusually wide spread between them.</li>
</ul>


Semiconductor weakness continued to weigh heavily on the market and left Information Technology lagging other sectors.
Market breadth remained positive, although the distribution of returns showed considerably greater weakness among the largest decliners.
Index implied vols remained firm while single stock implied vols continued to normalize, narrowing the unusually wide spread between them.


SMIC (Semiconductor Manufacturing International Corp) (981 HK)

SMIC (Semiconductor Manufacturing International Corp)

Hong Kong Single Stock Options Weekly July 13–17: Semis Weaken Despite Broad Market Gains

Hang Seng Index

Hong Kong Single Stock Options Weekly July 13–17: Semis Weaken Despite Broad Market Gains