options skew is fragmenting desk risk limits

Positioning often matters more than the headline itself.

A simple checklist—options skew, spot ETFs, and inventory—beats improvising under stress.

Put beside current chatter on “U.S. prediction markets regulator issues demand that clashes directly with courts,” the incentive problem looks clearer.

When books are thin, narratives look stronger than they are.

Better questions beat louder opinions when regimes shift.

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