Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>Hynix futures open interest trends lower since June 2 with LPs still rolling exposure into next month, while aggressive daily rolls are pressuring Hynix spot and deepening front month backwardation.</li>
<li>Desks are focused on non rolled size into next Thursday expiry, with potential forced unwind from long cash short futures setups driving spot selling and higher volatility risk.</li>
<li>Hynix setup is spot negative into expiry in both roll and non roll cases, a key factor for structuring trades into next Thursday outright or relative value versus Square.</li>
</ul>


Hynix futures open interest trends lower since June 2 with LPs still rolling exposure into next month, while aggressive daily rolls are pressuring Hynix spot and deepening front month backwardation.
Desks are focused on non rolled size into next Thursday expiry, with potential forced unwind from long cash short futures setups driving spot selling and higher volatility risk.
Hynix setup is spot negative into expiry in both roll and non roll cases, a key factor for structuring trades into next Thursday outright or relative value versus Square.


Hynix Expiry Setup Spot Negative Both Roll and Non Roll, Key for Trades Vs Square

SK Hynix

Hynix Expiry Setup Spot Negative Both Roll and Non Roll, Key for Trades Vs Square