> Unlike stocks and bonds, options are a zero sum game If each party only makes the one trade and has no other securities in his portfolio, maybe. That's almos

> Unlike stocks and bonds, options are a zero sum game If each party only makes the one trade and has no other securities in his portfolio, maybe. That's almost never the case. For example, if you're a market maker at Goldman Sachs and you sell 10k calls to a hedge fund, you want the stock to go up monotonically and gradually so that the customer profits on direction, you profit on volatility, and you can make money on the unwind trade as well. Win-win.