Yesterday, I saw someone comment that options are gambling...

This person clearly doesn't understand options. Perhaps they think my approach is subpar... Options depend on how you approach them. Whether you buy calls or sell calls, if you enter at your target price, buy in-the-money options, and have the capital to back it up, it still falls within the realm of value investing—provided you have the funds. Duan Yongping plays this game very well. However, investors are more speculators than gamblers. Why? For example, if you go to Macau and play baccarat or bet on big/small, you're relying purely on gut feeling and experience—there's no fundamental analysis; it's just probability... Nine out of ten gambles are scams! That's the fundamental difference. Options are financial derivatives, an innovation in finance, and an excellent tool for many investment banks and market makers to hedge. So, it varies from person to person.

Of course, if you blindly follow others' words without independent thinking and place reckless bets, the probability of losing by following the crowd is very high. That's why 'don't do what you don't understand' is crucial. The circle of competence matters—knowing what will happen is more important than when it will happen.