{"slug":"can-german-retail-investors-short-stocks","qid":"put_carry","label":"put_carry","post_title":"can-german-retail-investors-short-stocks","post_url":"/blog/can-german-retail-investors-short-stocks#q-put_carry","columns":["expiry_bucket","premium_pct_of_spot","daily_decay_pct_of_premium"],"rows":[{"expiry_bucket":"0-7 days","premium_pct_of_spot":1.21,"daily_decay_pct_of_premium":27.23},{"expiry_bucket":"8-30 days","premium_pct_of_spot":2.2,"daily_decay_pct_of_premium":3.39},{"expiry_bucket":"31-60 days","premium_pct_of_spot":3.21,"daily_decay_pct_of_premium":1.19},{"expiry_bucket":"61-120 days","premium_pct_of_spot":4.57,"daily_decay_pct_of_premium":0.51},{"expiry_bucket":"121+ days","premium_pct_of_spot":8.37,"daily_decay_pct_of_premium":0.15}],"shape":"ranking","sql":"SELECT\n    multiIf(days_to_expiry <= 7,   '0-7 days',\n            days_to_expiry <= 30,  '8-30 days',\n            days_to_expiry <= 60,  '31-60 days',\n            days_to_expiry <= 120, '61-120 days',\n                                   '121+ days')                             AS expiry_bucket,\n    round(avg(toFloat64(option_close) / toFloat64(underlying_close)) * 100, 2) AS premium_pct_of_spot,\n    round(avg(-theta / toFloat64(option_close)) * 100, 2)                    AS daily_decay_pct_of_premium\nFROM global_markets.options_greeks\nWHERE underlying_symbol = 'AAPL'\n  AND lower(toString(option_type)) LIKE 'p%'\n  AND iv_converged = 1\n  AND volume > 0\n  AND theta < 0\n  AND toFloat64(option_close) >= 0.10\n  AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.02\n  AND date >= '2025-07-01'\n  AND date <= '2025-09-30'\nGROUP BY expiry_bucket\nORDER BY min(days_to_expiry)","computed_at":"2026-09-22T14:51:36.414286+00:00","elapsed":0.003463268}