Recently, I've seen a bunch of people tightly link ETF capital flows with U.S. stock market risk appetite, and it feels like they keep saying "inevitably" as they talk... Anyway, after hearing that, I just want to double-check my positions and stop-loss levels.

As for options, honestly, the time value is eroding every day; the buyer either waits for a sudden surprise from volatility or gets slowly "eaten away"; the seller seems like collecting rent, but in reality, they’re taking on tail risk, and a single pin can pierce through. I used to want to get the direction right in one shot, but I realized it’s better to just make some adjustments: when volatility is high, loosen the ranges a bit; when volatility is low, tighten them up; small tweaks and patches—don’t expect to fix everything in one go. The same goes for stop-losses—leave some room for the next time.