Options—there are really only two kinds of lives, buyer and seller. That thing called time value doesn’t take your money—it eats your patience. Buyers always fantasize that they didn’t buy the call yesterday, and today it’s up so they can make ten times, but every day the theta charge is more cloying than sweetened milk tea.

As for the seller? They just keep smiling and pocket the time value, like guarding a campfire waiting to toast cotton candy, until—one careless moment—and the gamma bites them a little, and then it all goes bad.

Last night the funding rate hit extremes. In the group there were two camps: some called for a reversal, others said to keep squeezing the bubble. Anyway, I watched from the sidelines, and secretly added a bit more to my sell-side positions. In the end, I believe in one principle: when time is on someone’s side, they should be lazier. If you keep staring at the charts every day, you’re not as steady as someone collecting rent. Of course, extreme market moves can also boomerang, but that’s something that only comes to a head at the very last moment.

Forget it. I’ll scroll and earn some points to pass the time. For now, that’s it—don’t overthink it. There isn’t much time for gamblers left.