The whole thing about being an options buyer or seller, to put it plainly, is about who gets bitten less by time value. I used to think the buyer’s the one who’s got it good—turning a little into a lot—but then theta decay schooled me: once you keep holding, the money just vanishes, like ice cream melting in your hand—you don’t even get the chance to lick it.

Now when I see those tweets about modular blockchains, the developers are excited like it’s New Year’s Eve, and I’m just standing there completely clueless. What does the DA-layer story have to do with me? Take care of the orders in hand first.

Selling options sounds solid, like collecting rent, but when a black swan shows up and gamma goes nuclear, if your margin isn’t enough to hold and you get force-liquidated, you die just as ugly. So now I touch both sides, but with smaller positions—and my “belief” is lighter too. I don’t buy into that nonsense anymore about “one direction that will definitely let you lie back and rake in profits.” First, stay alive. As for the rest… we’ll see how the neon lights flicker.