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Options, to put it simply, are a battle against time.
Buyers like me, who are impulsive, pay a premium and feel like they've got a "turnaround ticket," but the time value is eroding every day.
Even if the market doesn't move, I'm still losing money, really feeling like my wallet is being silently charged...
Sellers, on the other hand, sit back and collect "rent," as long as they don't encounter a black swan, time is on their side.
But once the direction breaks out, all the gains they made earlier are not enough to cover the losses.
Now there's talk about rate cut expectations, the US dollar index, and how risk assets are rising and falling together.
To me, it looks more like: volatility gives you hope one moment and slaps you in the face the next,
Buyers are eaten by time, sellers are eaten by tail risk.
Anyway, before I place an order, I ask myself:
Am I trying to bet on the trend, or am I paying for anxiety...
And most likely, I end up being a little reckless and confirming the trade.