I've been diving for a long time, but I still want to add a comment: When it comes to options, to put it simply, time is the fee. As a buyer, the time value is decreasing every day, and even if the market doesn't move, you're still losing; as a seller, you're earning that "waiting for nothing" money, but once a big wave really hits, that slowly accumulated profit might be wiped out in one go, and maybe more.

Recently, everyone has been watching large transfers on the chain and unusual movements in exchange hot and cold wallets, shouting "smart money is coming/going." I also watch, but mostly treat it as a boundary condition: it can tell you that a storm might be brewing, but it doesn't indicate the direction. Who is ultimately eating the time value? The core is whether you stand on which side and whether you can withstand that period of "nothing happening." Anyway, I now prefer to do less rather than be worn down by theta every day and lose my mindset.