{"slug":"what-is-hedging","qid":"horizon_cost","label":"horizon_cost","post_title":"what-is-hedging","post_url":"/blog/lang/ta/what-is-hedging#q-horizon_cost","columns":["dte_bucket","cost_pct_of_position","cost_pct_per_30_days","avg_iv_pct"],"rows":[{"dte_bucket":"7-14 days","cost_pct_of_position":0.08,"cost_pct_per_30_days":0.23,"avg_iv_pct":19.4},{"dte_bucket":"15-30 days","cost_pct_of_position":0.27,"cost_pct_per_30_days":0.36,"avg_iv_pct":18.3},{"dte_bucket":"31-60 days","cost_pct_of_position":0.58,"cost_pct_per_30_days":0.41,"avg_iv_pct":17.9},{"dte_bucket":"61-120 days","cost_pct_of_position":1.2,"cost_pct_per_30_days":0.42,"avg_iv_pct":17.9},{"dte_bucket":"121-240 days","cost_pct_of_position":2.07,"cost_pct_per_30_days":0.39,"avg_iv_pct":18.4},{"dte_bucket":"241-400 days","cost_pct_of_position":3.49,"cost_pct_per_30_days":0.33,"avg_iv_pct":19.5}],"shape":"ranking","sql":"SELECT\n    dte_bucket,\n    round(avg(premium_pct), 2)                 AS cost_pct_of_position,\n    round(avg(premium_pct) / avg(dte) * 30, 2) AS cost_pct_per_30_days,\n    round(avg(iv) * 100, 1)                    AS avg_iv_pct\nFROM\n(\n    SELECT\n        multiIf(days_to_expiry <= 14,  '7-14 days',\n                days_to_expiry <= 30,  '15-30 days',\n                days_to_expiry <= 60,  '31-60 days',\n                days_to_expiry <= 120, '61-120 days',\n                days_to_expiry <= 240, '121-240 days',\n                                       '241-400 days')              AS dte_bucket,\n        toFloat64(option_close) / toFloat64(underlying_close) * 100  AS premium_pct,\n        days_to_expiry                                              AS dte,\n        implied_volatility                                          AS iv\n    FROM global_markets.options_greeks\n    WHERE underlying_symbol = 'SPY'\n      AND lower(option_type) LIKE 'p%'\n      AND iv_converged = 1\n      AND volume > 0\n      AND date >= '2026-09-01'\n      AND date <  '2026-10-01'\n      AND days_to_expiry BETWEEN 7 AND 400\n      AND underlying_close > 0\n      AND toFloat64(strike_price) / toFloat64(underlying_close) BETWEEN 0.94 AND 0.96\n)\nGROUP BY dte_bucket\nORDER BY min(dte)","computed_at":"2026-10-04T15:40:04.446913+00:00","elapsed":0.003751858}