In this episode of On the Margin, I sit down with Lily Francus to discuss the rapid expansion of the options market. We discussed the Fed's impact on the market, what is driving the growth in options, how options suck liquidity out of the market, and their impact on volatility. Lily is one of the sharpest minds I've spoken to, especially when it comes to market structure. I hope you all learn as much as I did. ---- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.