Markets
Anatomy of a bid-ask spread: where the pennies go
A spread decomposes into processing cost, inventory risk and adverse selection — and each component behaves differently when markets speed up.
Markets
Markets coverage from UZU NEWS.
Markets
What does trading volume measure, and what doesn't it tell you?
Volume counts transactions, not conviction — and the modern tape's count includes flows that carry no opinion at all.
Markets
What does after-hours trading actually cost?
Extended sessions run on thinner books, and the measurable cost shows up in spreads, depth and fill quality — not in headline prices.
Markets
What actually happens to a stock when its index adds it?
Inclusion effects are measurable around the announcement and the effective date — and the two windows tell different stories.
Markets
What does dealer gamma exposure measure, and what doesn't it?
GEX estimates aggregate into one number rest on three assumptions each worth checking before the number is quoted.