I've been getting a bit obsessed with options trading lately: buyers are racing against time every day, and time value seems to leak out slowly. If the market doesn't make a strong move, it gets worn down; sellers look stable, but they're actually collecting that "time tax." Once sudden volatility hits, they use their principal to weather the storm. Honestly, who's getting eaten? It depends on whether you get hit by randomness.

These days, the funding rates are extremely volatile again, and the group is arguing over whether it's a reversal or just a bubble being squeezed. I'm more conservative myself; the more exaggerated the rates, the less I want to pick a side. I’d rather earn less than get caught in a trap. Those active addresses on-chain also seem pretty good at timing... Forget it, I won't chase explanations anymore. I accept randomness. The only thing I can do is avoid putting myself in the easiest position to be simultaneously harvested by time decay and volatility.