You are flat and showing $99$ at $101$. You get lifted three times in a row and are now substantially short. What should your next market look like?

Answer: B – Higher, and the same width

Separate the two decisions. Width answers how sure you are of your value, and three fills have told you nothing about your precision, so the width should not change. Skew answers what you are holding and what the flow is saying, and here both point the same way: you are short and need to buy back, and repeated lifts suggest the true value is above where you were quoting. So move the whole market up and keep it the same width. Widening after a fill is the common reflex and it is the wrong lever; leaving the bid where it was leaves you buying at a price you no longer want.

• A. Widening implies you have become less sure, which is not what a fill tells you.
• B. Correct. Both fills and inventory point up; your uncertainty is unchanged, so the width should be too.
• C. That widens rather than moves, and it leaves you bidding where you no longer want to buy.
• D. Repeated fills on one side are the clearest information you will get, and ignoring them is the most visible error in this round.

Takeaway: Width answers "how sure am I"; skew answers "what am I holding". Never let one do the other’s job.