Duan Yongping responded on Xueqiu to recent questions about his Pop Mart holdings, saying he has never directly sold a single share of the company. He explained that part of the reported position changes stemmed from options trading and expiring exercises, and that this should not be read as a long-term bearish stance. Duan described his approach: when his put-selling position nears its cap, he shifts to buying the stock while selling calls; having the stock called away after expiry is, in his view, essentially the same trade as a short put being exercised. He also noted that options premiums on Pop Mart are currently around 5 percent per month and that he may keep using this strategy for a long time. On valuation, Duan said the current price is not expensive on a long-term horizon, while the short term is hard to judge. He stressed that he has set no specific time or price for selling Pop Mart, and it is possible he holds the position for a long period.
Duan Yongping said on Xueqiu that he has "never directly sold a single share of Pop Mart," addressing recent changes in his position in the company. Part of the position changes, he explained, came from options trading and expiring exercises, and should not be read as a long-term bearish stance on Pop Mart.
Duan described his approach: when his short-put position approaches its cap, he shifts to buying the stock while selling calls. If the stock is called away after expiry, the outcome is essentially the same trade as a short put being exercised.
He also noted that the premium on Pop Mart options is currently around 5 percent per month, and he may keep using this strategy for a considerable period.
On valuation, Duan said: "At the current price, I think Pop Mart is not expensive on a long-term view; in the short term, I don't know." He stressed that no specific time or price has been set for selling Pop Mart, and it could be a long time before any sale happens.
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