This is the fourth time I’ve seen someone ask, “When can an options buyer start to win?” Honestly, with time value—if you lie flat and do nothing with it, it will eat you up; if you chase the price higher, it still eats you up. The advantage for the seller is that while you just sit there waiting, it’s also working for you. Recently, during the run of stolen cross-chain bridges and abnormal oracle pricing, the market’s first reaction was “wait for confirmation,” but by the time confirmation comes, volatility has already changed, and the buyer has long been worn down by time value. Anyway, in my positions I’m used to setting limit orders to sell and collect rent from the seller, not to bet on direction—just to bet that time won’t be on your side.

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