6. Option - I may, but I don’t have to
exercise it
7. • You need to own the option before
you can exercise it - some work/
investment in advance is required
• Using the option should be
relatively cheap
8. • A “Call option” is a right to buy
underlying at a certain price (called
strike) at the time of maturity. Put
option is a right to sell underlying at
a certain price.
• Relationship between price and
volatility is mathematical (Black-
Scholes)
• The higher the volatility, the higher
the price of (either call or put)
14. Definitions of freedom
Freedom from - I don’t have to do what someone else tells me
Freedom to - I exercise my creativity and I am a producer
Optionality
23. Build infrastructure for volatile times!
Ethical crypto dealers
Decentralized markets (laundry detergent, farm food not only cocaine) -
everyone should participate, always for crypto. Build a muscle, even if
inconvenient
Societal structures (Parallel Polis) - clubs, fun, division of labor