{"slug":"the-wheel-strategy","qid":"premium_decay","label":"The SPY $740 put split into intrinsic and time value, daily to Jun 15 2026","post_title":"The Wheel Strategy: How the Loop Works","post_url":"/blog/the-wheel-strategy#q-premium_decay","columns":["date","intrinsic_value","time_value"],"rows":[{"date":"2026-05-01","intrinsic_value":20,"time_value":3.05},{"date":"2026-05-04","intrinsic_value":22.24,"time_value":4.35},{"date":"2026-05-05","intrinsic_value":13.54,"time_value":8.35},{"date":"2026-05-06","intrinsic_value":7,"time_value":9.52},{"date":"2026-05-07","intrinsic_value":8.56,"time_value":8.66},{"date":"2026-05-08","intrinsic_value":2.18,"time_value":12.59},{"date":"2026-05-11","intrinsic_value":0.72,"time_value":13.71},{"date":"2026-05-12","intrinsic_value":3.33,"time_value":11.35},{"date":"2026-05-13","intrinsic_value":0,"time_value":12.38},{"date":"2026-05-14","intrinsic_value":0,"time_value":9.99},{"date":"2026-05-15","intrinsic_value":2.66,"time_value":11.66},{"date":"2026-05-18","intrinsic_value":1.11,"time_value":12.09},{"date":"2026-05-19","intrinsic_value":5.75,"time_value":9.7},{"date":"2026-05-20","intrinsic_value":1.7,"time_value":9.99},{"date":"2026-05-21","intrinsic_value":0,"time_value":9.98},{"date":"2026-05-22","intrinsic_value":0,"time_value":8.79},{"date":"2026-05-26","intrinsic_value":0,"time_value":6.82},{"date":"2026-05-27","intrinsic_value":0,"time_value":5.95},{"date":"2026-05-28","intrinsic_value":0,"time_value":4.3},{"date":"2026-05-29","intrinsic_value":0,"time_value":3.9},{"date":"2026-06-01","intrinsic_value":0,"time_value":3.34},{"date":"2026-06-02","intrinsic_value":0,"time_value":2.79},{"date":"2026-06-03","intrinsic_value":0,"time_value":3.79},{"date":"2026-06-04","intrinsic_value":0,"time_value":2.75},{"date":"2026-06-05","intrinsic_value":4.64,"time_value":8.15},{"date":"2026-06-08","intrinsic_value":1.28,"time_value":7.65},{"date":"2026-06-09","intrinsic_value":4.3,"time_value":6.53},{"date":"2026-06-10","intrinsic_value":17.12,"time_value":1.58},{"date":"2026-06-11","intrinsic_value":0.52,"time_value":8.39},{"date":"2026-06-12","intrinsic_value":0,"time_value":5.44},{"date":"2026-06-15","intrinsic_value":0,"time_value":1.16}],"shape":"series","sql":"SELECT date,\n       round(greatest(740 - avg(underlying_close), 0), 2) AS intrinsic_value,\n       round(avg(option_close) - greatest(740 - avg(underlying_close), 0), 2) AS time_value\nFROM global_markets.options_greeks\nWHERE ticker = 'O:SPY260618P00740000'\n  AND date BETWEEN '2026-05-01' AND '2026-06-15'\n  AND implied_volatility > 0.02\nGROUP BY date\nORDER BY date","computed_at":"2026-07-31T03:05:05.360189+00:00","elapsed":0.091430789}