>If someone did turn $100k into $2m using crypto and options, the smartest thing they could do is to cash out and go home, as they will never get more lucky than that.

And the true problem here is that this would be true if they turned $100k into $200k, $100k into $300k, $100k, into $400k... That is always the problem with these crypto discussions, it's all hypothetical, but anyone in this actual situation would have felt an incredible pressure to start taking their profit before they got to the most astronomical returns that are often cited.