Recently, looking at the options market feels a bit like watching two groups of people compete: buyers are betting on "possibility," sellers are betting on "time." Time value, frankly, is like paying rent every day—deducted whether the market moves or not. If the market doesn't cooperate, it can crush your confidence first. Sellers, on the other hand, are more like landlords, hoping you won't hit the gas pedal too soon, but also afraid of a black swan suddenly blowing everything up.

Then I thought about how these days new L1/L2 projects are offering incentives to boost TVL. Veteran users complain, "Mining, selling..." It’s actually quite similar to options buyers: first, they spend money to buy a story of time, and whether it pays off depends on when the narrative really takes off. Or you just eat up your patience.

Anyway, I care more about whether I’m buying volatility or giving others time value. As for how you choose… I won’t tell you.