I recently got educated again about the time value of options… To put it simply, the buyer is paying a “waiting fee” every day, and even if the market doesn’t move, they’re bleeding; the seller is like collecting rent, but what they fear most is a sudden big move that blows the roof off. I used to think that buying options meant I could sleep peacefully, but it turns out time is quietly eating away at me, especially as expiration approaches.

Now when I look at the market, I first ask myself: am I betting on the direction, or am I betting on “something happening immediately”? These are completely different things. On-chain fund flows can sometimes give hints about emotional turning points, but they’re just hints, not some divine insight.

By the way, recently the incentive and points system on the testnet has heated up again. The group is guessing every day whether the mainnet will issue tokens. I also feel the itch, but thinking about “time cost” and the potential drawdown if expectations fall short, I have to hold myself back. I need to be reminded: don’t treat uncertain airdrops as guaranteed profits, and don’t use overly aggressive positions to buy time. That’s all for now.