During lunch I checked the on-chain fund flows, and it reminded me—almost on a whim—about options: the buyer is basically racing against time. The time value bleeds away every day, and if you just keep it idle, it’s like your value is being “consumed.” The seller looks like they’re collecting rent, but really, they’re betting that a big move won’t show up. Once it does, they wipe out the little gains they made earlier, interest and principal included. Anyway, right now I’m more concerned about whether I can withstand that sudden spike… Recently, hardware wallets have been out of stock, and phishing links are flying everywhere. It feels like everyone’s security awareness has improved, but it also just goes to show there are plenty of temptations out there. With something like options, if you even hesitate and point in the wrong direction, it’s hard to live with—so don’t let fake links take another bite out of you.