{"slug":"itm-vs-otm-leaps","qid":"rueckblick","label":"rueckblick","post_title":"itm-vs-otm-leaps","post_url":"/blog/lang/de/itm-vs-otm-leaps#q-rueckblick","columns":["strike_type","basispreis","verfall","spy_start","spy_ende","spy_veraenderung_pct","praemie_start","praemie_ende","praemie_veraenderung_pct","delta_start","delta_ende","zeitwert_anteil_start_pct","zeitwert_anteil_ende_pct","stichtag_ende"],"rows":[{"strike_type":"ITM (Delta ~0,80)","basispreis":610,"verfall":"17.12.2027","spy_start":657.25,"spy_ende":757.5286,"spy_veraenderung_pct":15.3,"praemie_start":119.75,"praemie_ende":188.5,"praemie_veraenderung_pct":57.4,"delta_start":0.8,"delta_ende":0.89,"zeitwert_anteil_start_pct":60.5,"zeitwert_anteil_ende_pct":21.7,"stichtag_ende":"10.09.2026"},{"strike_type":"ATM (Delta ~0,50)","basispreis":730,"verfall":"17.12.2027","spy_start":657.25,"spy_ende":764.48,"spy_veraenderung_pct":16.3,"praemie_start":50.17,"praemie_ende":105.01,"praemie_veraenderung_pct":109.3,"delta_start":0.52,"delta_ende":0.71,"zeitwert_anteil_start_pct":100,"zeitwert_anteil_ende_pct":67.2,"stichtag_ende":"11.09.2026"},{"strike_type":"OTM (Delta ~0,30)","basispreis":805,"verfall":"17.12.2027","spy_start":657.25,"spy_ende":764.48,"spy_veraenderung_pct":16.3,"praemie_start":21.4,"praemie_ende":55.74,"praemie_veraenderung_pct":160.5,"delta_start":0.31,"delta_ende":0.53,"zeitwert_anteil_start_pct":100,"zeitwert_anteil_ende_pct":100,"stichtag_ende":"11.09.2026"}],"shape":"table","sql":"SELECT\n    a.strike_type                                                        AS strike_type,\n    a.basispreis                                                         AS basispreis,\n    formatDateTime(a.verfall, '%d.%m.%Y')                                AS verfall,\n    a.spy_start                                                          AS spy_start,\n    b.spy_ende                                                           AS spy_ende,\n    round((b.spy_ende / a.spy_start - 1) * 100, 1)                       AS spy_veraenderung_pct,\n    a.praemie_start                                                      AS praemie_start,\n    b.praemie_ende                                                       AS praemie_ende,\n    round((b.praemie_ende / a.praemie_start - 1) * 100, 1)               AS praemie_veraenderung_pct,\n    round(a.delta_start, 2)                                              AS delta_start,\n    round(b.delta_ende, 2)                                               AS delta_ende,\n    round(a.zeitwert_anteil_start, 1)                                    AS zeitwert_anteil_start_pct,\n    round((b.praemie_ende - greatest(b.spy_ende - a.basispreis, 0)) / b.praemie_ende * 100, 1) AS zeitwert_anteil_ende_pct,\n    formatDateTime(b.end_datum, '%d.%m.%Y')                              AS stichtag_ende\nFROM\n(\n    SELECT\n        ['ITM (Delta ~0,80)', 'ATM (Delta ~0,50)', 'OTM (Delta ~0,30)'][i] AS strike_type,\n        [0.80, 0.50, 0.30][i]                                              AS ziel_delta,\n        argMin(tuple(ticker, toFloat64(strike_price), toFloat64(option_close), toFloat64(underlying_close),\n                     toFloat64(delta), expiration_date),\n               abs(toFloat64(delta) - [0.80, 0.50, 0.30][i]))              AS best,\n        tupleElement(best, 1)                                              AS kontrakt,\n        tupleElement(best, 2)                                              AS basispreis,\n        tupleElement(best, 3)                                              AS praemie_start,\n        tupleElement(best, 4)                                              AS spy_start,\n        tupleElement(best, 5)                                              AS delta_start,\n        tupleElement(best, 6)                                              AS verfall,\n        (praemie_start - greatest(spy_start - basispreis, 0)) / praemie_start * 100 AS zeitwert_anteil_start\n    FROM global_markets.options_greeks\n    ARRAY JOIN [1, 2, 3] AS i\n    WHERE underlying_symbol = 'SPY'\n      AND option_type IN ('call', 'C', 'CALL')\n      AND date = '2025-09-12'\n      AND iv_converged = 1\n      AND volume > 0\n      AND option_close > 0\n      AND expiration_date =\n      (\n          SELECT max(expiration_date)\n          FROM\n          (\n              SELECT expiration_date\n              FROM global_markets.options_greeks\n              WHERE underlying_symbol = 'SPY'\n                AND option_type IN ('call', 'C', 'CALL')\n                AND date = '2025-09-12'\n                AND iv_converged = 1\n                AND volume > 0\n                AND days_to_expiry >= 365\n              GROUP BY expiration_date\n              HAVING count() >= 15\n          )\n      )\n    GROUP BY i\n) AS a\nINNER JOIN\n(\n    SELECT\n        ticker,\n        argMax(toFloat64(option_close), date)     AS praemie_ende,\n        argMax(toFloat64(underlying_close), date) AS spy_ende,\n        argMax(toFloat64(delta), date)            AS delta_ende,\n        max(date)                                 AS end_datum\n    FROM global_markets.options_greeks\n    WHERE underlying_symbol = 'SPY'\n      AND option_type IN ('call', 'C', 'CALL')\n      AND date BETWEEN '2026-09-01' AND '2026-09-11'\n      AND expiration_date >= '2026-12-01'\n      AND option_close > 0\n    GROUP BY ticker\n) AS b ON b.ticker = a.kontrakt\nORDER BY a.ziel_delta DESC","computed_at":"2026-09-20T15:48:35.014745+00:00","elapsed":0.008988485}