Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Why We’re Eyeing KRX’s Sep 29 KCMC Event for Dividend Momentum Trades

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

Korea Stock Exchange KOSPI 200 / Event-Driven

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

<ul>
<li>Covered call ETFs ramped up KOSPI 200 weekly call selling, pushing premiums unusually low despite modest overall volume—likely a key driver behind the premium compression.</li>
<li>KOSPI 100 outperformed KOSPI 200 small-mid caps by 3.7%p last month, probably boosted by call-selling ETFs’ delta-hedge buying concentrated in large caps.</li>
<li>Watch for hedge buy flows ramping up before big events. Timing short-term longs in large caps and shorts in smaller KOSPI 200 names around these windows can yield solid alpha.</li>
</ul>


Covered call ETFs ramped up KOSPI 200 weekly call selling, pushing premiums unusually low despite modest overall volume—likely a key driver behind the premium compression.
KOSPI 100 outperformed KOSPI 200 small-mid caps by 3.7%p last month, probably boosted by call-selling ETFs’ delta-hedge buying concentrated in large caps.
Watch for hedge buy flows ramping up before big events. Timing short-term longs in large caps and shorts in smaller KOSPI 200 names around these windows can yield solid alpha.


Stealthy Long-Short Flow Playing Out Via Local KOSPI 200 Covered Call ETFs