{"slug":"what-are-leaps","qid":"decay","label":"Theta (daily decay) against days to expiry, across the call's life","post_title":"What Are LEAPS? Long-Dated Options","post_url":"/blog/what-are-leaps#q-decay","columns":["date","theta","dte"],"rows":[{"date":"2024-01-02","theta":-0.03,"dte":745},{"date":"2024-12-09","theta":-0.085,"dte":403},{"date":"2025-10-09","theta":-0.12,"dte":99},{"date":"2026-01-14","theta":-0.795,"dte":2}],"shape":"series","sql":"SELECT date,\n       round(avg(theta), 3) AS theta,\n       round(avg(days_to_expiry)) AS dte\nFROM global_markets.options_greeks\nWHERE ticker = 'O:SPY260116C00600000' AND date IN ('2024-01-02', '2024-12-09', '2025-10-09', '2026-01-14') AND implied_volatility > 0.02\nGROUP BY date ORDER BY date","computed_at":"2026-07-16T10:03:48.087830+00:00","elapsed":0.002177558}