Do you also have this feeling: after buying options, time feels like secretly collecting rent...

Buyers stare at the candlestick chart every day, praying for a big move, otherwise the time value gradually erodes you away; sellers, on the other hand, seem to be lying around earning from "the passage of time," but actually it's more like picking up cigarette butts—if a big bullish or bearish candle comes, a spark could set your pants on fire.

Recently, people keep comparing RWA, or the yields on US bonds, with on-chain yield products, basically selling "money for time." The difference is: you think you're earning interest, but you might actually be being eaten by risk premiums; you think selling options is eating time, but it might actually be counting down to a black swan event.

Anyway, I now have one principle: if you want to buy, treat it like playing the lottery; if you want to sell, first think about how to survive the worst day... don’t leverage too much, I’m good with meme images.