Derivatives and Quantitative Strategist

Gaudenz Schneider

Financial Economist with over 20 years of investment experience across all asset classes. He has worked as a sell-side derivatives researcher and trader on one of London’s largest trading floors, and as a structurer and portfolio manager for the buy-side in Switzerland. As head of Quantitative Strategy at an Asian WealthTech company, Gaudi and his team designed over 50 distinct investment strategies for institutional clients in Australasia.

Gaudi’s analysis follows a scientific approach based on empirical research and quantitative evidence.

Alibaba (9988 HK): Volatility Surface Favoring Diagonal and Calendar Spreads

Alibaba (9988 HK): Top Trades and Strategic Insights from HKEX Options Trading

Tencent (700 HK): Volatility Smile Signals Strategic Opportunities in Options Trading

Meituan (3690 HK): Options Insights and Analysis, Skew Shift Amid Earnings Calm

Xiaomi Corp (1810 HK): Top Trades and Strategic Insights from HKEX Options Trading

China A-Share Consumer Staples: An Analysis of the Opportunities Ahead

Foshan Haitian Flavouring A/H Listing - Strong Brand but Sales Have Been Slowing Down

Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi's (1810 HK)</a> one-month implied volatility has decreased from recent peaks but remains above the 90th percentile, while realized volatility is exceptionally high, exceeding 100% (100th percentile).</li>
<li>The options market exhibits an inverted term structure (backwardation) favoring calendar or diagonal spreads, with a slightly negatively sloped skew supporting put and call spreads.</li>
<li>Open interest extends to March 2026, with balanced call and put interest across most expiries, except for March 2026, which is heavily call-dominated.</li>
</ul>



Xiaomi's (1810 HK) one-month implied volatility has decreased from recent peaks but remains above the 90th percentile, while realized volatility is exceptionally high, exceeding 100% (100th percentile).
The options market exhibits an inverted term structure (backwardation) favoring calendar or diagonal spreads, with a slightly negatively sloped skew supporting put and call spreads.
Open interest extends to March 2026, with balanced call and put interest across most expiries, except for March 2026, which is heavily call-dominated.


Hang Seng China Enterprises Index (HSCEI INDEX)

Hang Seng TECH Index (HSTECH INDEX EQUITY)

Xiaomi Corp (1810 HK): Volatility Insights and Analysis Identify Spread Opportunities