Coin World News reported that on July 20 (UTC+8), the article revealed the core logic and strategies of the commonly used 'call option' model by market makers. In this model, the project party provides tokens, and the market makers provide stablecoins for market making and hold options. When market makers obtain the tokens, they will immediately sell a large amount to meet funding needs and achieve risk-neutral hedging, while continuously profiting through arbitrage from price differences, Gamma Scalping, and dynamic hedging of option volatility. The author points out that this strategy is not a deliberate market crash by market makers, but a rational choice made after precise calculations.