Options are the only DeFi primitive that price downside protection without forcing you to sell. Insurance when markets crash, leverage when they rip and convexity in both directions.
An option that can't be transferred, lent, or used as collateral is half a product. Greek options are ERC20: trade them on AMMs, post them in money markets, wrap them in vaults. Same building blocks as any other token.
Selling covered options is the oldest yield in finance and the largest one DeFi still hasn't priced in. Stake your assets, write upside, get paid in premium without giving up custody.