Duan Yongping Clarifies Popping Mart Options Strategy, Says Long-Term Price Is Not Expensive

HuoXing Finance report: On August 14, Duan Yongping responded on Xueqiu to recent questions about changes in his position in Pop Mart, stating that he has "never directly sold a single share of Pop Mart." Some shares were purchased and immediately paired with sold calls, which is fundamentally the same trading strategy as selling puts. Duan explained that when put positions approach their upper limit, he employs a "buy stock + sell call" approach; when the call is exercised at expiration, the outcome is essentially identical to a put being exercised. He indicated that he is likely to continue using similar strategies for a long time to come, with current option premiums for Pop Mart averaging around 5% per month. Regarding Pop Mart’s long-term value, Duan said, "From a long-term perspective, I believe Pop Mart’s current price is not expensive; I’m uncertain about the short term." He noted that this is precisely the underlying logic behind his option strategy—this approach may result in slightly lower profits but is relatively conservative; should option premiums decline in the future, he may adjust his strategy. Duan also emphasized that he has no plans to set a specific time or price at which to sell his Pop Mart shares: "There may be no such plan for a very long time." He revealed that selling puts is only one component of his investment strategy, and he has consistently applied similar methods across other investments—potentially acquiring 80–90% of his former Apple holdings through put options. Regarding recent market skepticism over his alleged "reducing and then increasing" positions, Duan’s previous statements imply that these position changes primarily stem from option expiration and exercise mechanisms, rather than reflecting any long-term bearish outlook on Pop Mart.