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#market-structure

Split visualization of institutional trading infrastructure versus retail trader view on dark navy background
Market Conditions6 min

How Hedge Funds Trade vs What Retail Investors Actually See

The financial media creates the impression that retail investors and hedge funds are competing on the same playing field. They're not. Understanding the actual…

Bernardo Rocha
Visualization of dealer hedging mechanics showing how options market makers create structural price flows through delta-neutral hedging
Market Conditions9 min

What Is Dealer Hedging and Why It Moves Markets?

Dealer hedging is the mechanical buying and selling that options market makers do to stay delta-neutral. It creates structural price flows that explain why…

Bernardo Rocha