I've recently been getting a bit obsessed with options, to be honest, time value is just a "chronic cost," mainly eating into the buyer’s patience. If you're the buyer, and the underlying doesn't move enough each morning, your premium is like being scratched away by a cat; if you're the seller, time is on your side, but you're actually selling "tail risk," collecting rent normally, but when a needle comes, you have to sew up the wound.

My own definition of "long-term" is pretty simple: two weeks to a month is what I can keep an eye on; anything quarterly requires discipline, or else emotions will take over. Recently, social mining and fan tokens—those "attention is mining" schemes—are quite similar to seller logic: project teams sell time and narratives, users buy into emotions and the future, and over time, the unfulfilled parts get eaten away... Anyway, I noticed the permissions in the contract are weird, scarier than the K-line.