---
title: Picked Off in One Second: Adverse Selection and Out-of-Sample Defences for an NSE Index Options Market Maker
url: https://www.ml-quant.com/papers/ssrn/7667778/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-30
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 7667778
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=7667778
featured: 2026-10-30
citations: unknown
topic: Trading, Microstructure & Execution
---


# Picked Off in One Second: Adverse Selection and Out-of-Sample Defences for an NSE Index Options Market Maker

Analysis of live market-making on Indian options shows losses to adverse selection within one second, but regime-detection signals that pull quotes in stress cut losses by forty-six percent for NIFTY in early tests.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=7667778
- Identifier: SSRN 7667778
- Released: 2026-10-30
- First featured: Quant Letter No. 137 (2026-10-30): https://www.ml-quant.com/issues/2026-10-30/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Trading, Microstructure & Execution
- Authors: Kethan S E

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