John Owen's trilemma answered: extent and application are distinct; the trilemma conflates them

Owen's trilemma assumes that the extent of the atonement equals the immediate application of the atonement. Mike denies this. Christ paid for all sin (extent) but that payment is only applied to those who believe (application). Unbelief is paid for by Christ, but forgiveness is not activated until one believes — as Ephesians 2 shows. Thus option 1 (all sins of all men) does not automatically yield universalism because application is conditioned on faith.