These past few days, looking at the options market, I’ve been a bit emotional: buyers are actually racing against time, even when the market isn’t moving, they’re bleeding; sellers, to put it simply, are collecting "delay fees," as long as you don’t exit before expiration, they’re gradually taking away the time value... It sounds pretty satisfying, but when a sudden spike hits, the gains made earlier can be completely wiped out in an instant.

Recently, the funding rates have been extremely volatile, and in the group chat, everyone is arguing whether to continue squeezing the bubble or not. I personally lean more conservative: the more absurd the rate, the less I want to be the buyer chasing the hype, willing to earn less or use small scripts to monitor abnormal trades or large exercises, at least I have a sense of control. Staring at the screen for too long makes my eyes sore and my neck stiff, and it feels like the time value is eating me alive.