In Options Trading, What Is the Analogous Concept to a ‘Fork’ That Represents a Fundamental Change in the Underlying Asset’s Structure?

The analogous concept in options trading is a 'corporate action' that necessitates an adjustment to the option contract terms. Corporate actions like stock splits, mergers, spin-offs, or special dividends fundamentally change the underlying stock's structure.

Option contracts must be adjusted according to the rules of the clearinghouse (e.g. the Options Clearing Corporation) to ensure the option holder's economic value is preserved, similar to how a fork changes the blockchain structure.