In the Context of Options, How Is the Volatility of a Cryptocurrency Similar to the Risk of an ASIC Becoming Obsolete?

In options trading, high price volatility increases the value of both call and put options because there is a greater chance the price will move significantly in one direction. Similarly, the rapid technological volatility in mining hardware, where new ASICs quickly render old ones obsolete, creates a high risk for the miner's investment.

This obsolescence risk is analogous to the time decay (Theta) in an option, where the hardware's value rapidly diminishes over time.