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In some markets, notably, listed stock and stock index option markets, market makers may go through an opening rotation in which all of the option series in a particular underlying are opened in turn using a call auction procedure. A similar reopening rotation may be followed if trading is interrupted due to a major development during the course of a trading day. A closing rotation may be followed to determine appropriate closing prices or quotes, particularly on inactive issues. Increasing reliance on automatic quotation devices encourages option specialists to open all series at once.
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