Recently, everyone has been talking about unlocking calendars again, claiming "there's selling pressure," but they go ahead and buy near-term options to bet on volatility. Honestly, the time value is quietly collecting tolls. Buyers are racing against time every day: the market doesn't move, and they still lose; sellers are more like slowly grinding people down: they're not afraid of your correct direction, just afraid you'll come too late. Anyway, I'm leaning towards less fussing now—if there's an unlocking expectation, extend the cycle, reduce leverage, and prefer to pay a little "insurance premium" rather than be beaten down by time... Sometimes, going slower can be faster.

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