Sigh, I’m just staring at the options order flow again. Buyers always feel like they can take the whole future for themselves, but the time value is like a leaking bucket—it drains the more you twist, leaving you with less and less. I’m the kind of Fomo fighter who always buys right at the point where the time value is highest, and then I watch it get eaten away by the seller, bite by bite. The seller is the real stable one—lying there and collecting the option premium, and if volatility spikes, they shrink a portion of the profit.

Lately, those new L1/L2s aren’t just pushing crazy incentives to boost TVL, right? Even long-time users are out there complaining about the “mine, extract, sell” cycle, and it makes me itch too, wanting to rush in. But when you look at on-chain data, the whales have already laid the groundwork and pre-positioned their addresses—waiting to cash out as soon as the incentives go live. I’m a half-step behind, so I end up chasing after everyone else’s moves and taking the bag.

Anyway, with time value, buyers are basically paying the sellers—just betting on the future direction. That’s it for now. I’ll wait and see.