Calls and puts are (both) almost always significantly more expensive several years out compared than they are in the present. The longer your time horizon the m

Calls and puts are (both) almost always significantly more expensive several years out compared than they are in the present. The longer your time horizon the more uncertainty you have to build into your price, which means you need to account for greater volatility. You shouldn't interpret that as optimism or pessimism in the market, because both long and short derivatives are expensive.