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040: Bryan Wiener – Reflects on His Years as a Pit Trader, and Takes Us to School on the Subject of Options

Chat With Traders

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What's the Real Reason Why Options Exist?

The put was first just to hedge portfolios. Then they invented the call because it's it you learn this in as a trader trainee, like I learned on the floor, calling to put if you're trading volatility. And so it evolved from just completely purely hedging to, you know, all these market makers have positions. That's where the VIX comes from.

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