Just started checking out the KOSPI options these few days. It is extremely liquid, no spread at all whatsoever with big size available. Is there any other options market that is as liquid as the KOSPI options? or they are the most liquid options market in the world? Just a side question, how can the options market maker make money when the spread on options is smaller than futures? Maybe there is no market maker or people just make a market for the futures and hedge it with options?