options skew is rewriting assumptions about desk risk limits

The healthier setup is alignment: options skew improving while spot ETFs stays orderly.

Stay close to what users and balance sheets are actually doing.

Put beside current chatter on “OKXICE to Launch Tokenized Stock Trading With Strategy, Coinbase, and Circle,” the incentive problem looks clearer.

A clean chart can hide a crowded trade.

Stay close to what users and balance sheets are actually doing.

Liquidity still decides how far any catalyst can travel.

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