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 Distribution Risk Following Multi-Month Consolidation

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>Falling implied vols contrasted with deteriorating breadth and relative weakness in HSI versus global peers such as SPX.</li>
<li>Single stock option volumes remained firm even without major contribution from recent high-volume names, with Calls continuing to dominate overall activity.</li>
<li>HSI implied vols moved closer to one-year lows while average single stock implied vols also declined across most sectors and constituents.</li>
</ul>


Falling implied vols contrasted with deteriorating breadth and relative weakness in HSI versus global peers such as SPX.
Single stock option volumes remained firm even without major contribution from recent high-volume names, with Calls continuing to dominate overall activity.
HSI implied vols moved closer to one-year lows while average single stock implied vols also declined across most sectors and constituents.


China National Building Material (3323 HK)

Industrial and Commercial Bank of China (1398 HK)

Hong Kong Single Stock Options Weekly (May 15 – 21): Stocks Lags as Rates Continue Rising

Hang Seng Index

Hong Kong Single Stock Options Weekly (May 15 – 21): Stocks Lags as Rates Continue Rising