Sell put is a very common trading method used by Duan Yongping. Unlike the direct buying and selling that most people are familiar with, using the Sell put strategy allows you to buy at a price lower than the current market price within a certain period in the future. If during this period SPCX doesn’t reach the price you want to buy at, you can collect the premium. This $2.3 million is the premium Duan Yongping collected—you can think of it as a funding rate. Similarly, users who want to buy $BTC at a lower price can also use this method to buy $BTC. If it drops to your desired price point, you buy in at a price lower than the current market price. If it doesn’t drop, you collect the premium. The dual-currency earn feature on OKX and Binance uses this exact strategy. For beginners who don’t know how to use Sell put or call, you can directly try dual-currency earn. However, the "Dragon King" mentioned that based on the actual IV rate in the crypto space, this strategy isn’t suitable for long-term premium collection and is better suited for U.S. stocks. Right now, I’m looking for a balance point between 30–40 DTE IV and RV to verify whether this claim is reliable. But one thing he said is correct: BTC’s IV is generally relatively low, so the premium profits are likely not as lucrative as those in U.S. stocks.