As a mm you don’t have to buy the underlying to cover short calls Yes you're absolutely right. The beauty of being a market maker is you only need to hedge ac

As a mm you don’t have to buy the underlying to cover short calls Yes you're absolutely right. The beauty of being a market maker is you only need to hedge across the entirely of your exposure to a particular equity. The more different options you sell on a particular equity, the easier it becomes to hedge your net exposure.