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 (Mar 30 – Apr 02): Mixed Price Action Amid Soft Option Volumes

Macro Monthly (May): Elevated Vols Persist Despite April Compression

Hong Kong Single Stock Options Weekly (May 04–07): Earnings and Pop Mart Flows (Again) In Focus

Oil: Price and Volatility Shock Create High Probability Setups

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>Oil dominated March performance, standing apart from broader declines while other major markets struggled across regions and asset classes.</li>
<li>Volatility rose broadly, with some traditionally stable markets experiencing unusually elevated implied volatility levels and March volprem broadly negative.</li>
<li>Seasonal patterns are less reliable in the current environment, though April has historically been supportive for certain markets, in particular Nifty.</li>
</ul>


Oil dominated March performance, standing apart from broader declines while other major markets struggled across regions and asset classes.
Volatility rose broadly, with some traditionally stable markets experiencing unusually elevated implied volatility levels and March volprem broadly negative.
Seasonal patterns are less reliable in the current environment, though April has historically been supportive for certain markets, in particular Nifty.


Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

Macro Monthly (April): Elevated Implied Volatility Set Against a Traditionally Supportive Backdrop

Crude Oil

Macro Monthly (April): Elevated Implied Volatility Set Against a Traditionally Supportive Backdrop