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

Hong Kong Single Stock Options Weekly (Feb 24 – 28): Broad Deterioration

Macro Vol Monthly - March:  Weakness Could Continue into Mid-March

Clifton Derivatives

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

Equity Derivatives

Hang Seng China Enterprises Index / Equity Derivatives

Hang Seng China Enterprises Index (HSCEI INDEX)

<ul>
<li>Put trading as a percentage of total volume continues to increase and coupled with a shift in the skew highlights changing sentiment.</li>
<li>Volatile price action this week with Wednesday and Friday both moving ~3.50%.</li>
<li>Implied and historic volatilities were all up on the week and seasonal setup over next two weeks not favorble. </li>
</ul>


Put trading as a percentage of total volume continues to increase and coupled with a shift in the skew highlights changing sentiment.
Volatile price action this week with Wednesday and Friday both moving ~3.50%.
Implied and historic volatilities were all up on the week and seasonal setup over next two weeks not favorble. 


HSCEI Index Options Weekly (Feb 24-28): Shifting Sentiment