I’ve been lurking in the group for quite a while, and I still can’t help saying this: with options, the time value is basically just “eating” away at the buyer’s patience. You’re buying both the direction and the expiry—if the market doesn’t move at the speed you expected, even if your direction is right, you may still get worn down by time. The seller is like running a “rent-collection mode”: picking up that small amount of time decay every day, but if a real breakout goes wild, they can just as easily get kicked out. In plain terms, they profit from the hesitation of most people, and they bet on the extremes of a few.

Lately, I’ve been seeing new L1/L2 projects roll out incentives to pull in TVL. And with the usual complaints from veteran users about farming, withdrawing, and selling, I suddenly felt it’s the same taste as selling options: you just steadily collect a bit of “time fee” until one day the on-chain sentiment turns and bites back. Anyway, as for me, I’m more inclined to use small-buyer pair hedging now—so when I get impulsive and carried away, at least I won’t end up tossing and turning all night.