I’ve recently been a little too fixated on the options order book, and the more I watch, the more “time value” feels like an air tax: the buyer wakes up every day and gets a piece of oxygen taken away—without anything happening, they’re still losing blood. The seller looks steady, but really they’re taking small bets on the chance that one day nothing blows up. Put plainly, it’s just eating other people’s patience for waiting out the plot.

That meme-style attention rotation is even more obvious: once a celebrity says something, everyone rushes in to抢 the excitement. And when the time drag goes on, volatility doesn’t keep up—buyers get slowly ground down and wiped out. Old hands even advise newcomers not to take the last handoff; I’ve got to say, that also sounds right… Anyway, I’m not chasing explanations anymore. I accept randomness—at most I’ll use a small position to buy something like “in case it happens,” and the rest is just watching the show.