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I used the term “lottery ticket” in the context that was specifically “quoted” in my reply, therefore all he can do is dump those worthless options for nothing, maybe even at a loss depending on his commission structure. Why give something away for free? Why not...

I was referring to long options that are near worthless with "bid size @ 0" with a "hope to get filled at 0.05", and not options at 0.25 .

If you have long options that are nearly worthless you can keep them a s "lottery tickets", and sometimes you can get lucky.

The market makers are liquidity providers and their edge is totally different to retail traders. Their edge is very small, and they have to manage their risk. Their risk is reflected in those spreads. We cannot change this, and the best thing we can do is to focus on ways to minimise our...