I just spent the whole afternoon looking at options data, and I can’t help thinking that time value is something I both love and hate. Buyers always feel like they can bet correctly on direction, but they get eaten up by theta every day. No matter how anxious you feel, you can’t outpace time. Anyway, it’s a grind.

As for the sellers, they’re steadier, but they’re not pushovers either. In recent macro news, rate-cut expectations and the US dollar index have been pulling in opposite directions. Risk assets have been rising and falling together, and volatility has been stirred up like crazy. I wrote a small tool to scan through a batch of contracts, and found that some strategies look safe on the surface—yet even with longer holding periods, they still get slapped by volatility. Honestly, these days, no one should be too confident about locking in who wins.

Anyway, I won’t talk about this anymore—I’m too lazy to argue with people about it. In the end, it’s all fate. Forget it—everyone has their own way of making a living.