Options are derivative products that can better obtain "fat tail returns" compared to perpetual contracts When there is uncertainty in the market (black swan), it is more prone to "tail risk", and the current Trump Market is a typical market with "tail risk". Although perpetual contracts are commonly used in my personal trading of derivatives, in this market, options do offer better "fat tail returns" than perpetual contracts. The spot price of BTC is also fluctuating, and perpetual contracts anchor spot prices with index prices and marker prices, both of which are "linear" in price; And the option price is calculated based on the B-S model, so it is "non-linear" - this non-linear relationship allows options to achieve some unique trading strategies compared to perpetual contracts! In fact, options are a more mainstream derivative in the traditional financial circle, while perpetual contracts are a unique derivative in the cryptocurrency circle. The trading strategy of options is already quite mature in the traditional financial circle. For example, when hedging spot positions, buying virtual put options actually has a higher cost-effectiveness (lower capital occupation) than shorting contracts, and there is no risk of contract insertion being liquidated. Based on the structure of options trading, it is actually possible to analyze the long and short views of institutional investors and whale traders on BTC in a certain period of time in the future. Share some options bloggers and communities, let's learn together: ①Adam @BTC__options Option data and macro market analysts share daily trends and analysis of option orders. Columnists from multiple well-known media outlets, most of the option data analysis seen in the media comes from Adam, who discovers the whale movements represented by option data faster than the market. ② @GreeksLive Ge Zhi http://Greeks.live It is the most widely used option trading tool, and the official account will release the views of English options big V, which is closer to the participants of the English options market and provides more perspectives on the options market. Moreover, Gezhi provides multiple data tools, including data labs, position visualization, and bulk tracking groups, all of which are first-hand sources of information. You can find communication groups on Telegram by searching for GreeksLiveCN, where frontline traders share their views every day. ③ Jeff Liang @JeffLia12309881 GreeksLive CEO & Cofounder。 The early hoarders, the earliest Bitcoin option traders in the Chinese speaking region, had a lot of deep thinking about cryptocurrencies. ④ OKX Telegram Options Discussion Community OKX often holds lectures on option data, inviting different option traders to share valuable insights and help analyze recent trends, which is very helpful. For example, https:// (x.com)/okxchinese/status/1907039673257541663 At present, OKX has a high market share in options trading. You can search for OKXGLVoptionsCN on Telegram * * * to find the * * OKX options exchange group.