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What is SPX option flow actually made of? A fifth still trades on a physical floortranslating…
1 min readUSAForem (DEV Community)
Every print on the SPX options tape carries an OPRA condition code naming the pipe it came through: electronic book, complex order book, price-improvement auction, a multi-leg order legging into the simple book, or a human being on the trading floor in Chicago. Nobody appears to…