Just now my phone popped up a red dot again: a certain option is about to expire soon. I stared at that notification for a while… Honestly, the buyer is just racing against time; the time value is leaking out every day, and even if you don’t move, it’s thinning out; the seller, on the other hand, is more like “collecting rent,” betting that you won’t get that explosive move. But don’t idolize the seller too much—if a big wave really hits, the small rent they collected could be wiped out in one night, and a shaky mindset can’t handle that.

Thinking about the recent NFT royalty disputes, it’s quite similar: creators want continuous income, secondary markets want smoother liquidity, and in the end, it’s really “time” distributing who takes that part of the value. Anyway, I now prefer small positions as a buyer to experiment; if I lose, I’ll just consider it tuition. The slow grind of the seller, I find it hard to sleep well… Let’s leave it at that.