Recently, everyone has been talking about options, and some people think the buyer is just "spending a little money for a gamble," while the seller is "making easy money." Others believe that time value is a cushion provided by the market, but in reality, it’s just quietly deducting meal money from the buyer’s pocket every day... Of course, sellers aren’t just collecting for free; when volatility kicks in and shakes things up, the paper losses are more real than anyone else’s.

To put it simply, buyers are buying "possibility," but time isn’t on their side; sellers are selling "certainty," but they’re also holding tail risk in their arms. Recently, cross-chain bridges have had issues, and oracles have been acting up, so everyone starts waiting for "confirmation." This consensus is pretty funny: on-chain, you can wait, but options don’t wait for you—the expiration date will come right on time. I trust the process, but when execution details are a mess, don’t expect time value to still make sense. That’s all for now.