It is a market-implied derivative, honest for count props: compare any book's alternate quote against the derived fair price to see which rungs are shaded and which are soft.
How it works
- 1Enter the main line and both prices. The posted over/under and the two sides' odds.
- 2The model fits λ. Solved so the Poisson over-probability equals the devigged market number.
- 3Read the ladder. Fair prices per alternate line — grade a book's alt quote against its rung.
Why do books shade alternate lines?
Because alternate ladders get less two-way action than the main line, books protect themselves with wider margins the further a rung sits from the market number. A derived fair ladder exposes exactly how much extra hold each rung carries.
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