By contrast, in a shallow and illiquid market, or in a market in which large quantities of the deliverable asset have been deliberately withheld from market participants an illegal action known as cornering the market , the market clearing price for the futures may still represent the balance between supply and demand but the relationship between this price and the expected future price of the asset can break down. Options can be standardized and traded through an exchange or they can be privately bought or sold, with terms crafted to suit the needs of the parties involved...
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