No matter how you choose to negotiate, do the step of asking your employers for a couple scenarios --- not just one --- that will put actual numbers to the value of your options. Not based on the VC valuation, but on what the company might get acquired for, and what sales figures would look like at those acquisitions.
You will find hiring managers that literally have no idea how or why your options could be worth anything, and it's worth knowing when you're dealing with them.
You will find hiring managers that literally have no idea how or why your options could be worth anything, and it's worth knowing when you're dealing with them.