People are always asking who really has the advantage in options trading... Frankly, the time value is being deducted every day, and the buyer either waits for volatility to save them or gets "dragged to death"; the seller looks pretty happy collecting premiums, but they're actually betting that nothing big happens. Once a needle or a black swan appears, all the gains they've made so far will have to be spit out, and that's not enough. Recently, with extreme funding rates, there's been debate in the group about whether to reverse or continue squeezing the bubble. I prefer to first see if large on-chain transactions are flowing back or if there's ongoing hedging activity; otherwise, relying solely on sentiment to guess the direction is too exhausting. As for you saying "sellers always win"? Do they have the capacity to withstand tail risks... I'll leave it at that. And that line you said, "Buyers are just giving away money," I just want to reply with half a sentence: Have you seen...