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

Macro Monthly (November): Rising Volatility, Positive Seasonals and a Concerning Trend

Gold: Reviewing Five Decades of Bull Markets Against an Overextended Backdrop

Gold Part 2: Implied Volatility Dynamics Offer Insight into the Tone of This Bull Market

Clifton Derivatives

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

Equity Derivatives

Korea Stock Exchange KOSPI 200 / Equity Derivatives

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

<ul>
<li>Kospi’s rally has extended seven months and now shows signs of fatigue, trading with speculative assets and now sharply diverging.</li>
<li>Implied volatility is elevated, with short-term measures above the 90th percentile on multiple lookbacks.</li>
<li>We recommend an option trade and hedge given the current setup.</li>
</ul>


Kospi’s rally has extended seven months and now shows signs of fatigue, trading with speculative assets and now sharply diverging.
Implied volatility is elevated, with short-term measures above the 90th percentile on multiple lookbacks.
We recommend an option trade and hedge given the current setup.


Kospi: Rising Volatility and Early Warnings From a Seven-Month Surge