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by cecilpl2
1476 days ago
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You are comparing one side of one trade to the other side of many trades. Each individual options trade is zero-sum (one side wins exactly as much as the other side loses, barring transaction fees), as is the total of all options trades. |
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The whole point of having financial instruments is that you can mix risks. Whether each individual one results in heads or tails is not actually the point, the point is entities can shape the risks they want to be exposed to.