Is Binance once again innovating in finance based on RWA? Binance has officially launched the Covered Call and Cash Secure Put strategies, similar to traditional US stock market options, but using cryptocurrency for trading. What are Covered Call and Cash Secure Put: Covered Call: Holding the underlying stocks and selling calls for these stocks can earn a premium in advance. There will be two outcomes: 1. If the option is exercised, the underlying stock will be sold at the exercise price, and the upward gains will be capped at the exercise price, while the premium can offset some of the downward losses. 2. If not assigned, one can earn free premium and maintain the same number of shares held, but the fluctuation of the share price cannot be ruled out. Cash Secure Put: Refers to selling a put while reserving a sufficient amount of cash to buy stocks when the option is assigned, with the option premium to be collected in advance. There are also two possible outcomes: 1. If an option is assigned to exercise, the underlying stock must be bought at the exercise price, even if the market price is lower on the exercise date, it must be bought at the same price. 2. If not assigned, you can earn royalties for nothing and not receive regular shares. Both strategies require collateral, with covered call requiring holding the corresponding number of underlying stocks for the option, and cash secured put requiring sufficient margin cash to be received at the exercise price. Both strategies have their own profit and risk points. The risk of a covered call is that when it rises, the call sold will lose money, and when it is bought back, the call will be more expensive. However, the underlying stock will make a profit at this time, which means the profit limit is locked. When it falls, the underlying stock will lose more than the call sold. Therefore, when making a covered call, it is best to ensure that it does not exceed a certain exercise price at a certain time, which is less than or equal to. The risk of cash secured put is that the price drops lower than the exercise price, and if one wants to buy at a low price to earn some premium, the result is that the price of the underlying stock is cheaper when the market exercises the option. If one tearfully buys at a high price, the loss of principal is greater than the return on the option premium. Therefore, when making cash secured put, it is a call for the underlying stock to not fall below a certain price at a certain time, which is greater than or equal to. @How do I understand this? Seeking Sharp Evaluation