Recently, looking at options has been a bit funny and frustrating: buyers stare at the market every day, hoping for a big bullish or bearish move to save them, but the time value is deducted daily like rent, and waking up, they’re already at a loss; as for sellers, they seem calm on the surface collecting "rent," but they’re actually betting that nothing big happens. When a black swan appears, it’s like being chased to add margin, and their mindset is pretty broken. To put it simply, who is time value eating? Most of the time, it’s eating the hesitant buyers, but when volatility explodes, it’s the sellers who end up paying tuition. Recently, the market has been talking about rate cut expectations, the US dollar index, and risk assets rising and falling together, making the sense of direction even more uncertain… I now prefer to do less fussing, hold spot/low leverage for the long term, and if I do play with options, I only use small amounts as a ticket—if I lose, I just take it as a wake-up call.