The three options market making teams continuously quote across the options exchange and hedge their risk by taking positions on the underlying exchange. The three options market taking teams hunt for alpha on the options book by punishing mistakes made by the options market making teams.
The options order book is built entirely from student quotes. Only a small set of single stock options on selected underlying assets are tradable, with a restricted set of strikes and expirations.
A highly controlled and adjustable options exchange makes the arm a friendlier place to learn options trading from first principles.