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 (Nov 17 – 21): Breadth Collapses, Put Volumes Rise

Australia Single Stock Options (Nov 24– 27): Broad Rebound Pulls Implieds Lower

Hong Kong Single Stock Options Weekly (Nov 24 – 28): Broad Decline in Implied Vol

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

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

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

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>November’s seasonal strength extends into the U.S. Thanksgiving period, where macro markets have tended to post positive returns.</li>
<li>Despite the positive averages, dispersion in returns remains wide, reminding traders that seasonality is no guarantee.</li>
<li>Positive seasonals can align with favorable trading setups, but timing and risk management remain key.</li>
</ul>


November’s seasonal strength extends into the U.S. Thanksgiving period, where macro markets have tended to post positive returns.
Despite the positive averages, dispersion in returns remains wide, reminding traders that seasonality is no guarantee.
Positive seasonals can align with favorable trading setups, but timing and risk management remain key.


Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY)

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

Macro Markets and the U.S. Thanksgiving Effect: Shedding Light on Historical Patterns

S&P 500 INDEX

Macro Markets and the U.S. Thanksgiving Effect: Shedding Light on Historical Patterns