hard · Volume Spread Analysis background-trend-context

A market-maker is bearish and expects lower prices. According to the mechanics of price discovery, how will they likely react when a retail buy order enters during a temporary rally?

  1. They will withhold their quote to create a gap-up in the market.
  2. They will offer a 'good' price to the buyer, effectively capping the upside and narrowing the spread.
  3. They will widen the spread to increase their profit margin on the transaction.
  4. They will mark the price up sharply to discourage the buyer from entering.

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