Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

Why Are Local Institutions Buying Samsung C&T Instead of Life over Elec Stake Sale?

Samsung Biologics CMO Deal Noise & Samsung C&T Synthetic Subsidiary Stub Trade

Samsung Biologics Contract Manufacturing Deal with Moderna for COVID-19 Vaccines: Key Takeaways

Samsung 1P Discount Now at an All-Time Low: Why & What Next

Samsung 1P Discount: Biologics/Elec Equity Swap Dynamics

Key Takeaways & Ramifications of Samsung LJY's Public Apologies Today

Event-Driven

Out of the five synthetic stubs in Korea, two names are in a severe diversion at this point.They are Samsung C&amp;T and CJ Corp.C&amp;T is now at -3σ on a 20D MA relative to Electronics and Biologics. Then, we have CJ Corp, which is at -1.8σ relative to Cheiljedang and E&amp;M.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/139/885/original/12.png?1592148258" class="editor-image img-responsive" data-smartkarma-image-id="139885"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/139/884/original/11.png?1592148210" class="editor-image img-responsive" data-smartkarma-image-id="139884"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/139/886/original/13.png?1592148275" class="editor-image img-responsive" data-smartkarma-image-id="139886"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/139/887/original/14.png?1592148284" class="editor-image img-responsive" data-smartkarma-image-id="139887"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/139/888/original/15.png?1592148295" class="editor-image img-responsive" data-smartkarma-image-id="139888"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/139/890/original/16.png?1592148342" class="editor-image img-responsive" data-smartkarma-image-id="139890"></figure>

Out of the five synthetic stubs in Korea, two names are in a severe diversion at this point.They are Samsung C&amp;T and CJ Corp.C&amp;T is now at -3σ on a 20D MA relative to Electronics and Biologics. Then, we have CJ Corp, which is at -1.8σ relative to Cheiljedang and E&amp;M.

Samsung Electronics Pref Shares (005935 KS)

Korea Synthetic Stubs: C&T at 2-Yr Low, Pure Stub Trade with Biologics