How Does the Concept of ‘Strike Price’ in Options Relate to the ‘Price Range’ in Concentrated Liquidity Pools?

The strike price in an option is the fixed price at which the underlying asset can be bought or sold, defining the point of profitability. Similarly, the price range limits in a concentrated liquidity pool define the boundary of the LP's active position and potential profitability.

The range limits act like two 'strike prices,' where crossing either limit fundamentally changes the position's payoff profile and risk exposure.