put option

He bought a put option to hedge his portfolio against a potential 30% crash in ETH.他买入一份看跌期权，以对冲其投资组合免受 ETH 可能发生的 30% 暴跌的影响。

Put options become expensive during periods of high implied volatility, making downside protection costlier to acquire.看跌期权在高隐含波动率期间变得昂贵，这使得下行保护的获取成本更高。