{"slug":"does-theta-decay-over-the-weekend","qid":"atm_premium_curve","label":"Average at-the-money SPY option premium by days to expiry, first half of 2026","post_title":"Does Theta Decay Over the Weekend?","post_url":"/blog/does-theta-decay-over-the-weekend#q-atm_premium_curve","columns":["dte_bucket","avg_premium_pct"],"rows":[{"dte_bucket":"1 DTE","avg_premium_pct":0.391},{"dte_bucket":"2-3 DTE","avg_premium_pct":0.561},{"dte_bucket":"4-7 DTE","avg_premium_pct":0.771},{"dte_bucket":"8-14 DTE","avg_premium_pct":1.085},{"dte_bucket":"15-30 DTE","avg_premium_pct":1.617},{"dte_bucket":"31-60 DTE","avg_premium_pct":2.238},{"dte_bucket":"61-120 DTE","avg_premium_pct":3.199}],"shape":"ranking","sql":"SELECT\n    dte_bucket,\n    round(avg(premium_pct), 3) AS avg_premium_pct\nFROM\n(\n    SELECT\n        multiIf(days_to_expiry <= 1,  '1 DTE',\n                days_to_expiry <= 3,  '2-3 DTE',\n                days_to_expiry <= 7,  '4-7 DTE',\n                days_to_expiry <= 14, '8-14 DTE',\n                days_to_expiry <= 30, '15-30 DTE',\n                days_to_expiry <= 60, '31-60 DTE',\n                                      '61-120 DTE')           AS dte_bucket,\n        days_to_expiry                                        AS dte,\n        100 * toFloat64(option_close) / toFloat64(underlying_close) AS premium_pct\n    FROM global_markets.options_greeks\n    WHERE underlying_symbol = 'SPY'\n      AND date >= '2026-01-02'\n      AND date <  '2026-07-01'\n      AND iv_converged = 1\n      AND volume > 0\n      AND days_to_expiry BETWEEN 1 AND 120\n      AND toFloat64(option_close) > 0\n      AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.005\n)\nGROUP BY dte_bucket\nORDER BY min(dte) ASC","computed_at":"2026-08-18T14:58:29.623529+00:00","elapsed":0.002297085}