Serenity's EWY Trade Yields 383% Return as South Korea's Memory Chip Stocks Rally This Year

EWY-2.17%
According to a post on X, investor Serenity shared details of a successful volatility expansion trade on South Korea's ETF EWY this year. The trade generated approximately 383% return, initiated when the ETF's implied volatility (IV) stood around 32%, which later expanded to 58%. The gains were driven by rallies in major South Korean memory chip makers including SK Hynix and Samsung Electronics. Serenity noted this was among the year's most successful trades, attributing the success to an early judgment that Korean market volatility would expand due to rising concentration in the memory industry.
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