Lately, the more I look into options, the more I feel like “time” is kind of biased: when you’re the buyer, you’re the one slowly being gnawed away by time day by day—if you never get out, your position gradually thins, and your mindset easily gets anxious; when you’re the seller, on the surface it looks like you’re collecting rent, but in reality you’re the one taking on the “fear of something sudden happening” first—you don’t even sleep well. To put it plainly, whose value is the time value really eroding? Most of the time, it first goes after people who lack patience. By the way, when I see everyone comparing RWA and US Treasury bond yields with on-chain yield products, my first reaction is still: the returns look “stable,” but don’t forget what you’re actually exposed to—time risk, or some kind of unexpected event. In any case, I’d rather move slower and pay more myself than take the easy way and magnify the risks.