Weekly Options Cannibalize PFOF

With latest data in hand, Alphacution shows that the zero-day option (0DTE) phenomenon has contributed to long-term declines in aggregate payment for order flow (PFOF) levels thereby causing a ripple of subtle and not-so-subtle impacts in the market ecosystem...

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About Paul Rowady

Paul Rowady is the Director of Research for Alphacution, a research and strategic advisory platform uniquely focused on modeling and benchmarking the impacts of technology on global financial markets and the businesses of trading and asset management. He is a 35-year veteran of the proprietary, quantitative and derivatives trading arenas.

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