So assume you found $1M and want to start making markets for one particular stock's option chain. How do you start? For example. I think a particular stock will go down in price. So what should I do? Start buying all the Puts I can? But then I would be speculating and not market making. So what do I do instead? Offer a two-sided market for Put Options and wait til people start hitting your bid/asks? Basically how do you start? What's the first thing you would do? Buy/short the underlying asset?? I'm having a hard time stopping myself from just speculating.