The Ignored Effect of Options on Liquidity

„Liquidity is often looked at from the perspective of spot markets, meaning normal non-leveraged orders. The information this gives us is no longer useful to us as every single retail trader and institution uses it and has spent hundreds of millions of dollars in Research and Development fine-tuning their models and making the use of spot liquidity information too competitive for there to be much value left in it. However, options have a monumental, forgotten impact on liquidity and markets — that only few sophisticated market participants are aware of. We will get into this deeper further on and in later articles.”

https://medium.com/@robert.alexandrou/the-ignored-effect-of-options-on-liquidity-e4fb3b6b3b3b