In today’s briefing:
- Alibaba 4Q Ecommerce Outlook
- EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
Alibaba 4Q Ecommerce Outlook
- December GMV was below expectations, due to elevated case counts after the relaxation of the covid restriction
- With high return rate and more merchant supports, gap between GMV growth and CRM growth remained large in 4Q.
- Long-Term wise, Alibaba will continue losing market share while PDD’s market share may potentially surpass JD.
EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- Weekly summary of vol changes and moves across Global Markets
- Analysing ATM volatility and skew changes over the last 5 days
- We suggest a few trades to take advantage of the implied vol surfaces
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