Talking about love is not as fun as playing options

In fact, dating and marriage are not much different from trading options.

In other words, choosing a partner is like choosing an option, and maintaining a relationship is like holding an option.

Let me explain why.

Options' total price (premium) is divided into intrinsic value and time value. Similarly, the happiness of a relationship (understood in economic terms as "utility") is determined by its corresponding "intrinsic value" and "time value".

The intrinsic value of a relationship is everything one can immediately feel. Whether a man is tall and handsome, whether he is wealthy and generous, whether a woman is gentle and considerate, and whether she has personal charm, these are all intrinsic values of a relationship. The more a person's wealth benefits their partner, the more valuable the relationship becomes.

The time value of an option is the part of the premium that is not intrinsic value, but is priced by the market. Essentially, the time value of an option is the "right to the underlying asset from now until the expiration date", or the "potential intrinsic value". The longer the time to expiration, the more expensive the time value, and the higher the implied volatility (reflecting potential risk-return).

The time value of a relationship manifests as a person's potential and the expectations for the future of the relationship. When considering being with someone, besides what they have now, factors such as talent and potential achievements, and how long the relationship can last, are equally important.

When seeking a partner, under similar external conditions (appearance, wealth, personality), everyone prefers to be with someone younger, more innocent, and with more potential. If someone says they prefer someone older and more mature, it's because that person has already converted their time value into intrinsic value.

The further the relationship progresses, the less novelty it has, and the less time value it holds. Therefore, it becomes less necessary to constrain and secure it. In youth, love is sincere and promised to last forever, both in form and spirit; when starting a family, a contract (marriage certificate, prenuptial agreement, etc.) is needed to bind both partners and oneself; in old age, experiencing twilight love, unsure of which will go first, there's no need to say "I love you" or register for marriage (maybe the children still don't approve), just being together is enough.

For an option, over the same period, the further from the expiration date, the more valuable it is. The law of accelerated time value decay applies to people as well. Ten years and 3,600 days are the same for everyone. In youth, time is abundant, and every moment is vividly felt; after graduation and starting work, time is counted in weeks and months; perhaps after retirement, a few years pass in the blink of an eye.

3. Similarity in investment weighting
For the vast majority of investors, due to the high-risk, high-leverage nature of options, they only occupy a small position in the investment portfolio. Putting all funds into option trading is not rational or advisable.

As social animals, people need social production activities to meet external needs. The power brought by intimate relationships comes from within. People who make relationships their entire life are not independent and are fragile (I recommend reading Fromm's "The Art of Loving"). No one wants to be friends with such people, let alone date them. Of course, to be realistic, romance requires economic foundations. For most people, focusing on their careers is still the priority.

The world is full of wonders. Just as there are experts who only play options in the market, there are also people whose relationships constitute the vast majority of their lives. However, these types of behaviors require certain talents and economic foundations. Going deeper, I believe that "career = sustainable material income + enjoyment". If these two conditions are met, then relationships are your "career". Obviously, most people don't meet these conditions.

There are numerous option strategies. Options traders often have their favorite strategies. Some specialize in doomsday scenarios, some specialize in being short sellers, and some only use options for hedging...

Finding a partner is similar — people have different preferences. If one type of option corresponds to high leverage, high risk, and short-term excitement like a midnight love, then another type of option, like a deep in the money LEAP Call, corresponds to in-depth research and long-term optimism, meant to be...

A common saying in option trading is: you can only profit from buying options if you buy the right direction. Getting the direction wrong means losing everything. Later, it was discovered that some people trade both sides, betting on volatility, and still make money if the stock price lands in a certain range. Ultimately, options are derivatives, and whether you can profit depends on your judgment of the underlying asset.

When buying an option in the opposite direction, there is no such thing as "the option is wrong and the stock is right". In relationships, there is no right or wrong, just incompatibility. Failed option trades make your investment more seasoned, and every relationship, to a greater or lesser extent, shapes who you are now.

Moreover, although there are many strategies, many players prefer to use only one-sided buying, as it's a controlled risk and straightforward. Using one-sided options as simple leverage or hedging tools. In relationships, if you can't handle multiple partners, being straightforward with "one-sided buying" is more suitable.

If convincing me that "holding an option is like maintaining a relationship" can have ten thousand reasons, then denying it only needs one reason.

Grief will eventually fade, scars will heal, and the heart will become stronger.