Lately, I've been losing sleep over options... Honestly, this thing called time value is just about whose patience is being tested at each settlement. The buyer pays the premium, and even if the market doesn't move, it slowly erodes away, feeling like there's an invisible faucet on the account; the seller seems to be "collecting rent over time," but in reality, they're taking tail risk as their main meal, and a black swan event could wipe out all the small profits made earlier.

What I’m more worried about now is the illusion that sellers are "safely collecting rent," because when correlations change or volatility spikes, it becomes really uncomfortable. Recently, the community has been arguing over privacy coins/mixing compliance boundaries, and the more we argue, the more I feel the risk isn’t that it hasn’t happened, but that everyone hasn’t agreed on how to price it... Anyway, I’ll just reduce my position size first; being able to sleep well is more important than anything.