Maker Opportunity

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Symbol	Missed Liquidity	Exhausted Liquidity	Routed Liquidity	Volume Opportunity	Cboe ADV	Liquidity Opportunity (% of ADN)
SPY Dec 8 683.00 Put [04S1FH]	18,475	238	1,498	20,211	49,140	41.13
SPY Dec 8 683.00 Call [04S1FK]	19,090	278	484	19,852	57,358	34.61
NU Jan 16 15.00 Call [03UAy7]	16,142	1,582	0	17,724	1,994	888.87
SPY Dec 8 682.00 Call [04S1FJ]	16,815	106	544	17,465	21,466	81.36
SPY Dec 8 684.00 Put [04S1FF]	15,231	33	727	15,991	33,251	48.09
SPY Dec 9 684.00 Call [04SAfD]	14,867	401	398	15,665	50,079	31.28
SPY Dec 9 684.00 Put [04SAfF]	14,996	126	453	15,575	40,791	38.18
SPY Dec 8 685.00 Put [04S1F5]	13,719	213	692	14,624	28,075	52.09
SPY Dec 10 683.00 Put [04SHy6]	14,040	80	122	14,243	13,453	105.87
IBIT Dec 19 64.00 Call [04Agi2]	422	13,772	0	14,194	72	19,713.89
QQQ Dec 8 623.00 Call [04S0xv]	12,090	807	283	13,180	17,299	76.19
SPY Dec 8 681.00 Call [04S1F7]	12,820	53	31	12,904	2,721	474.24
SPY Dec 8 684.00 Call [04S1FG]	10,916	576	1,194	12,686	79,023	16.05
SPY Dec 9 683.00 Call [04SAf9]	12,451	40	160	12,650	15,458	81.83
SPY Dec 10 684.00 Put [04SHy9]	12,257	266	66	12,589	9,409	133.80
SPY Dec 8 682.00 Put [04S1FI]	11,489	194	570	12,253	63,109	19.42
SPY Dec 11 686.00 Call [04SNWz]	11,898	165	136	12,199	10,456	116.67
SPY Dec 11 685.00 Call [04SHth]	11,907	36	63	12,005	7,656	156.81
SPY Dec 10 682.00 Call [04SHyH]	11,650	69	39	11,758	3,690	318.64
SPY Dec 10 683.00 Call [04SHy8]	11,359	67	162	11,587	10,752	107.77
SPY Dec 10 685.00 Put [04SAdZ]	11,378	58	37	11,473	4,640	247.26
SPY Dec 10 684.00 Call [04SHy4]	10,685	361	123	11,169	11,477	97.32
SPY Dec 11 688.00 Put [04SNWu]	10,694	182	113	10,988	6,974	157.56
QQQ Dec 8 624.00 Call [04S0xt]	9,455	1,189	156	10,800	24,014	44.97
SPY Dec 11 687.00 Call [04SNWx]	10,351	220	158	10,729	11,112	96.55

Data for 2025-12-08 to 2025-12-12 inclusive.

Missed Liquidity

This is a measure for the last week of the average daily volume requested at a price equal or better than the NBBO where we had no liquidity.

Exhausted Liquidity

This is a measure for the last week of the average daily volume requested at a price equal or better than the NBBO, which were partially filled.

Routed Liquidity

This number represents for the last week the average daily volume on orders which were routed and filled on another venue.

Volume Opportunity

This is a measure of the total average daily volume of the missed, exhausted and routed liquidity.

Cboe ADV

Average Daily Volume for the last week of shares matched on Cboe for the security shown.

Liquidity Opportunity

Percentage of the ADV missed, exhausted or routed. The higher the percentage the larger the market making opportunity.