Estrogen increases sex hormone-binding globulin (SHBG) in women, which binds free androgens, while progesterones with more androgenic effects can mitigate this increase.

“we know that estrogen increases your sex hormone binding globulin quite significantly. Sex hormone binding gabbulin being that protein that sort of runs around and gobbles up free androgens or testosterone. And so, you know, because I'm prescribing estrogen and um that we know progesterines actually have the ability to to blunt or mitigate that increase in the sex hormone binding globulin, the more androgenic the progesterine, the more mitigating effect on that increase in sex hormone binding globulin.”