~$100 M+ of ETH gamma ripped through Paradigm today. Now picture what happens when we integrate @tradeparadigm into Paradex.
Edit: this was a single trade!! Total 24h platform volume was $800m~
Paradexio
4) The counterparty MM took this trade competitively and took the risk of $150k Calendar Theta a day, offset by Gamma, and $225k of Calendar Vega.
In a quiet market and before the weekend, this looked risky. The MM needed an imminent BTC move and consequent catalyzed Vol buyers.