One AAPL call through its final month: closing premium split into intrinsic value and time value
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-01, from How Risky Is Options Trading? The Mechanics.
| date | contract_label | premium_usd | intrinsic_usd | time_value_usd |
|---|---|---|---|---|
| 2026-04-15 | $300 strike | 0.85 | 0 | 0.85 |
| 2026-04-16 | $300 strike | 0.53 | 0 | 0.53 |
| 2026-04-17 | $300 strike | 0.85 | 0 | 0.85 |
| 2026-04-20 | $300 strike | 1.06 | 0 | 1.06 |
| 2026-04-21 | $300 strike | 0.54 | 0 | 0.54 |
| 2026-04-22 | $300 strike | 0.91 | 0 | 0.91 |
| 2026-04-23 | $300 strike | 0.76 | 0 | 0.76 |
| 2026-04-24 | $300 strike | 0.65 | 0 | 0.65 |
| 2026-04-27 | $300 strike | 0.42 | 0 | 0.42 |
| 2026-04-28 | $300 strike | 0.47 | 0 | 0.47 |
| 2026-04-29 | $300 strike | 0.49 | 0 | 0.49 |
| 2026-04-30 | $300 strike | 0.73 | 0 | 0.73 |
| 2026-05-01 | $300 strike | 0.48 | 0 | 0.48 |
| 2026-05-04 | $300 strike | 0.17 | 0 | 0.17 |
| 2026-05-05 | $300 strike | 0.49 | 0 | 0.49 |
| 2026-05-06 | $300 strike | 0.73 | 0 | 0.73 |
| 2026-05-07 | $300 strike | 0.6 | 0 | 0.6 |
| 2026-05-08 | $300 strike | 1.5 | 0 | 1.5 |
| 2026-05-11 | $300 strike | 0.91 | 0 | 0.91 |
| 2026-05-12 | $300 strike | 1.05 | 0 | 1.05 |
| 2026-05-13 | $300 strike | 2.18 | 0 | 2.18 |
| 2026-05-14 | $300 strike | 1.17 | 0 | 1.17 |
| 2026-05-15 | $300 strike | 0.45 | 0.25 | 0.2 |
- Rows × columns
- 23 × 5
- Period covered
- to
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
date |
date | 2026-04-15 to 2026-05-15 | |
contract_label |
text | 1 distinct value ($300 strike) | |
premium_usd |
number | 0.17 to 2.18 | US dollars |
intrinsic_usd |
number | 0 to 0.25 | US dollars |
time_value_usd |
number | 0.17 to 2.18 | US dollars |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
the exact SQL behind every number
WITH busiest AS (
SELECT ticker
FROM global_markets.options_trades
WHERE ticker LIKE 'O:AAPL260515C%'
AND toDate(sip_timestamp) BETWEEN toDate('2026-04-15') AND toDate('2026-05-15')
GROUP BY ticker
ORDER BY count() DESC
LIMIT 1
),
contract AS (
SELECT toFloat64OrZero(substring(ticker, 14, 8)) / 1000 AS strike_usd,
concat('$', toString(round(toFloat64OrZero(substring(ticker, 14, 8)) / 1000, 2)), ' strike') AS contract_label
FROM busiest
),
premium AS (
SELECT toDate(sip_timestamp) AS date,
round(argMax(toFloat64(price), sip_timestamp), 2) AS premium_usd
FROM global_markets.options_trades
WHERE ticker IN (SELECT ticker FROM busiest)
AND toDate(sip_timestamp) BETWEEN toDate('2026-04-15') AND toDate('2026-05-15')
GROUP BY date
),
spot AS (
SELECT toDate(toTimeZone(window_start, 'America/New_York')) AS date,
argMax(toFloat64(close), window_start) AS stock_close
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'AAPL'
AND toDate(toTimeZone(window_start, 'America/New_York')) BETWEEN toDate('2026-04-15') AND toDate('2026-05-15')
AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60
+ toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
GROUP BY date
)
SELECT p.date AS date,
c.contract_label AS contract_label,
p.premium_usd AS premium_usd,
round(greatest(s.stock_close - c.strike_usd, 0), 2) AS intrinsic_usd,
round(p.premium_usd - greatest(s.stock_close - c.strike_usd, 0), 2) AS time_value_usd
FROM premium AS p
INNER JOIN spot AS s ON p.date = s.date
CROSS JOIN contract AS c
ORDER BY date
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