MacroVoices #368 Charlie McElligott: Banking Crisis, FOMC, 0DTE, CTAs & more
Macro Voices
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Is There a Net End User?
In the case of what we were trying to do, which is identify how our people using this, we want to isolate customers. On the other side, what was very clear was that it was market makers and I differentiate market makers from broker dealers because by and large, this is a pure product of electronic options market makers. But if you look at kind of in that, generally speaking, you know, out of the money upside, so like 101% to 103% calls, or you look in the out of theMoney, you know,. put stuff like 97 to 99% puts, customers are net buyers.
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