The past couple of days, I've been a bit obsessed with options markets, honestly. Basically, time value is like a slowly dripping clock; the drip is most obvious to the buyer: if you do nothing, you lose; if you move too slowly, you also lose. The seller is like holding a basin to catch water—more relaxed, but not without risk. If a sudden spike (like increased volatility) hits, the basin can tip over.

I personally lean a bit more toward being a seller, since I watch the curve like watching goldfish… just swimming slowly is fine. But every time a hot topic comes up, I get itchy to buy a lottery ticket. Most of the time, I end up just feeding the market's time value.

Recently, the NFT royalty debate has been quite similar: creators want to maintain "time value," while traders want smoother liquidity. In the end, it comes down to who can hold out longer. Next time, I might only buy during clear event windows, and otherwise just collect rent patiently… How do you decide when it's worth being a buyer?