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

Nikkei225 and Election: Hedging Activity and Implieds Flag Opportunity

Global Macro Outlook (July): Trump Volatility Playbook Offers Clues for July Positioning

EQD| SPX Volatility During the Trump Years (2017-2020)

Kospi200: Elevated Returns, Historical Extremes and Optionality Opportunity

Kospi200: Where Implied Vol Stands After 33% Surge

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>Seasonal weakness and failure at highs support a tactical short.</li>
<li>July has historically been weak for the Nikkei in both price and realized vol; Trump-era data showed summer vol was suppressed.</li>
<li>We propose a tactical trade that aligns with the current setup and supportive price and volatility seasonals.</li>
</ul>


Seasonal weakness and failure at highs support a tactical short.
July has historically been weak for the Nikkei in both price and realized vol; Trump-era data showed summer vol was suppressed.
We propose a tactical trade that aligns with the current setup and supportive price and volatility seasonals.


日経平均：ブレイクアウト失敗と夏の季節性は好機を示唆

Nikkei 225

日経平均：ブレイクアウト失敗と夏の季節性は好機を示唆