Yes but potentially naked. Most likely they are selling the risk to institutional investors. See also: https://www.bloomberg.com/opinion/newsletters/2025-06-26/

Yes but potentially naked. Most likely they are selling the risk to institutional investors. See also: https://www.bloomberg.com/opinion/newsletters/2025-06-26/anyone-can-sell-you-spacex-stock https://www.bloomberg.com/opinion/newsletters/2025-06-26/any...