The kind of trades I only open late at night, the more I look at options, the more I feel that time value is like the calories in midnight snacks: if you don’t move it, it disappears on its own.

Buyers are paying not for “direction,” but for patience tax; when the market drags on for two days, theta slowly chews up your wallet.
Sellers seem like collecting rent, but actually they’re using tail risk as collateral; when a black swan comes, it shifts from “earning interest” to “being eaten by interest.”
Recently, in the group, debates about privacy coins, coin mixing, and compliance boundaries have the same flavor—usually it seems harmless, but when regulators/exchanges tighten, time instantly takes sides.
(I’m watching the funding rates while nibbling on snacks, like a mental shareholder.)
Anyway, I only dare to hold small positions as a buyer now, as a seller… less pretending to be brave.