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

Global Markets: Why This Sell-Off Is Different. UPDATE

USA Against ROW: Trends in Global Market Leadership

Global Markets: Why This Sell-Off Is Different and What It Signals

Clifton Derivatives

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

Equity Derivatives

<ul>
<li>Both Nikkei and USD/JPY re-tested levels last seen in early August, with Nikkei implied vols surging.</li>
<li>Beyond tariffs, we explore what may become the dominant driver of market movements in the weeks ahead.</li>
<li>Skew steepened materially; we examine how open interest at current spot levels could shape the spot-vol relationship going forward.</li>
</ul>


Both Nikkei and USD/JPY re-tested levels last seen in early August, with Nikkei implied vols surging.
Beyond tariffs, we explore what may become the dominant driver of market movements in the weeks ahead.
Skew steepened materially; we examine how open interest at current spot levels could shape the spot-vol relationship going forward.


Nikkei Index Options Weekly (Apr 07 – 11): Vol Spikes, Skew Steepens, Macro Shifts Unfold

Nikkei 225

Nikkei Index Options Weekly (Apr 07 – 11): Vol Spikes, Skew Steepens, Macro Shifts Unfold