Options Market Making

objective

Run options quoting engines with stable spread capture and controlled greek/inventory risk.

workflow

1. define quoting universe and per-node spread/size rules.
2. compute quote adjustments from skew, surface, and inventory states.
3. hedge delta and vega exposures with latency-aware execution.
4. stress quote toxicity under jumps and volatility regime breaks.
5. deploy only when quote capture remains positive after hedge costs.

required diagnostics

• quote hit-rate and adverse-selection by node.
• inventory and greek drift after fill bursts.
• spread capture versus hedge slippage decomposition.
• latency impact on stale-quote losses.
• node-level pnl concentration and failure hotspots.