Options, to put it simply, are just time charging.

As a buyer, you're constantly being nibbling away at "time value" every day, and even if the market doesn't move, you're still losing money.
The most frustrating part is that you clearly see the right direction but are a beat late;
As a seller, watching the premium flow in feels pretty good, but you're actually selling tail risk.
Usually, you're eating the buyer's time, but when a black swan hits, time bites back, and the blow is even more decisive.

Recently, the "compound yield" of pledge and shared security systems has been criticized as a copycat scheme,
and I can empathize: on the surface, it's all about easy profits, but underneath, it's actually shifting risk forward and onto others.
Anyway, I either buy with a small position as insurance or sell with strict stop-loss limits.
I'm most afraid of those who "authorize multiple signatures, layer multiple agreements," and in the end, forget what they're even selling.