What is the difference between traditional options and crypto options?
Could you elaborate on the key differences between traditional options and crypto options? As a professional in the field of cryptocurrency and finance, I'm interested in understanding the distinctive features of these two options types. With traditional options, do they operate similarly to equity or commodity options, where the underlying asset is typically a stock or commodity? And how do crypto options differ? Are they based on the price of a specific cryptocurrency, or do they have a different structure entirely? I'd appreciate a concise yet comprehensive overview of the main differences between these two options markets.