Options, to put it simply, their time value is like "collecting tolls." As a buyer, every morning I wake up feeling like I'm being slowly drained: the direction isn't clear, and theta is gradually nibbling away. The seller looks pretty happy, like running a small stall collecting rent daily, but once the market goes haywire, all the small tips accumulated before might be wiped out in one go, and I might end up losing money.

I'm someone allergic to gas fees, so when I see on-chain options exercising/hedging transactions, high transaction fees just annoy me. The time value earned ends up going to miners or order matchers... That's why I prefer small positions on chains with low fees, or just buy some "insurance" within my affordable range—if I lose, it's just tuition.

New chains and Layer 2s trying to boost TVL with incentives also seem similar: early buyers rush in with a mindset of "buy and hold," but over time it turns into "mine, then sell," while others keep wasting time. Anyway, what I care about more now is: am I collecting time money, or am I being collected by time?