At midnight, while I was flipping through the options chain, I remembered an old saying: time value—exactly who is it consuming? Put simply, the buyer wakes up every day with “a little less.” Even if the direction is right, once you keep dragging it out, time grinds it down. The seller looks comfortable, like they’re collecting rent, but what you’re really taking in is that portion of premium others pay for fear of uncertainty. And every so often, a single big volatility move can just flip the table.

Recently, the group has been circulating the usual stuff about stablecoin regulation, reserve audits, and de-pegging rumors. Once emotions kick in, implied volatility rises right along—buyers get more expensive, sellers look even more attractive… but that “good smell” is sometimes bait.

Anyway, I care more now about whether I can get through the worst single hit—I'd rather miss out. That’s it for now.