Lately, I've been debating whether options should be bought or sold, essentially who the time value is eating away at. Buyers wake up every day being rubbed by "time," losing money even when the market is flat; sellers find the premium appealing, but in reality, they're pocketing tail risk, like collecting rent normally, but if something goes wrong, it's like fixing the foundation.

These days, everyone talks about rate cut expectations, the US dollar index, and even risk assets rising and falling together in strange synchronization. I actually fear more the inflated confidence of "thinking you understand macro." When the market starts bouncing back and forth, time becomes more like a dull knife, slowly cutting.

Right now, I feel more like optimizing routing: saving a little wear and tear where I can, preferring to earn less rather than selling myself as liquidity. In the end, wins and losses aren't necessarily about the direction; often, it's just losing to time. Time, this thing, really doesn't play fair.