Lately I’ve been thinking about options again: the buyer is really spending money to buy “time.” Every day they wake up, the time value keeps leaking away—until at the end they have to bet on the direction and hope the move is fast enough. The seller is like collecting rent, but it’s not free money either. When an extreme market hits, that one moment can make them give back several months’ worth of rent. If your mindset isn’t steady, you really can’t handle it. In short, time value mainly comes from the buyer’s patience—and it also tests the seller’s risk-control bottom line.

While I’m at it, I’ve also been following the arguments in the community about privacy coins, coin mixing, and the line of compliance, and I understand better why sellers always need to keep a margin buffer… policies and public sentiment’s “sudden volatility” don’t care about your model at all. Don’t make things harder for yourself—position discipline matters more than opinions.

First, I’ll roll a few orders I have that are nearing expiration, and I’ll also check the risk limits again. That’s it for now.