While browsing the options market during my commute, I still stick to the old saying: time value, in simple terms, is just your patience being deducted every day. As a buyer, even if you're right about the direction, you still have to beat "the passage of time," otherwise the market will grind you down; sellers may seem like they’re collecting rent, but they’re actually exchanging tail risk for small change, and one day if a sudden spike hits, everything you've gained before will have to be given back, and that’s not even enough.

I personally fear the kind of seller mindset that looks "stable," especially when the underlying narrative collapses, and volatility becomes irrational. Recently, the inflation + studio + coin price spiral in blockchain games actually feels like time value is accelerating toward zero: you think you can wait patiently, but it just pushes you into fast-forward... Anyway, I’d rather do less than risk a major accident.