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权益衍生品市场结构深度分析:Gamma暴露、做市商对冲与关键库存水平的动力学

权益衍生品市场结构深度分析:Gamma暴露、做市商对冲与关键库存水平的动力学

本报告旨在对美国股票期权市场的现代结构进行详尽的解构与分析,重点探讨零日到期期权(0DTE)的爆炸性增长及其对市场稳定性、波动性机制及参与者行为的深远影响。
Leo Wang 22 Nov 2025

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