A NO share pays $1 if the outcome does not happen. Because one of YES or NO must win, a YES share and a NO share on the same outcome together are worth $1, so their prices add up to about 1 dollar.
Buying NO at 30 cents is the same bet as selling YES at 70 cents, apart from fees and the spread.
YES share · Bid-ask spread · Negative risk (neg risk)
Buying NO at 30 cents is the same bet as selling YES at 70 cents, apart from fees and the spread.
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