I'm not very good at explaining fancy options theories, but when it comes to time value, essentially it's asking: are you willing to pay rent every day to live in a "potentially skyrocketing/ crashing" house, or be the landlord collecting rent? Buyers buy uncertainty; if nothing happens, time slowly erodes it away; sellers profit from "the market mostly stays still, not too exaggerated," but once a black swan appears, losses are often quite severe.

Recently, cross-chain bridges have had issues again, and oracle price feeds have been acting up. Everyone has learned to "wait for confirmation," which is basically admitting that tail risks are always present. At this point, being a seller seems tempting, but I usually only act when I’m in a key position and can hedge, preferring to earn less from time value rather than taking a night-time accident as a tuition fee. Anyway, most of the time I remain a spectator.