We have traded options for almost 20 years, from a multi-billion notional vol book at a multi-strat to about $500M notional on @DeriveXYZ since December 2023, when it was still Lyra. Binaries are one pan. Here is what the SPX surface cooked on 16 Oct (spot 7700) that a $1 YES/NO ticket cannot: Calendar: Monday ATM vol 9.2, December 13.9. Sell two days of gamma, own two months of vega. Skew: 20 Nov 90% put 24.2 vol, 110% call 12.5. A risk reversal owns the 11.8-point slope; a binary is one dot on it. Put spread, the Hot7 hedge: buy 20 Nov 90% at 24.2, sell 80% at 36.7. The leg we sell is 12 vol points richer than the one we buy. Gamma: 9.2 vol says Monday moves 0.58%. Hedge the straddle hourly, collect realized minus implied. Tail: 20 Nov 80% put, strike 6162, pays per point below with no ceiling. A binary pays $1 at minus 20% and $1 at minus 60%. Cheapest vol on the screen is 8.75, the 26 Oct 102.5% call. A binary cannot even order it. TL;DR: a binary is a one-dish restaurant, fine for a Tuesday. A surface is a full kitchen: 18 strikes by 40 expiries on this screen, and we eat there every day.