{"slug":"what-is-hedging","qid":"put_rate_card","label":"put_rate_card","post_title":"what-is-hedging","post_url":"/blog/lang/ta/what-is-hedging#q-put_rate_card","columns":["strike_distance","cost_pct_1_month","cost_pct_3_month","avg_iv_pct"],"rows":[{"strike_distance":"0-2.5% OTM","cost_pct_1_month":2.38,"cost_pct_3_month":4.31,"avg_iv_pct":25.9},{"strike_distance":"2.5-5% OTM","cost_pct_1_month":1.51,"cost_pct_3_month":3.3,"avg_iv_pct":26.4},{"strike_distance":"5-7.5% OTM","cost_pct_1_month":0.94,"cost_pct_3_month":2.52,"avg_iv_pct":27.2},{"strike_distance":"7.5-10% OTM","cost_pct_1_month":0.56,"cost_pct_3_month":1.89,"avg_iv_pct":28},{"strike_distance":"10-15% OTM","cost_pct_1_month":0.29,"cost_pct_3_month":1.23,"avg_iv_pct":30}],"shape":"series","sql":"SELECT\n    multiIf(otm_pct < 2.5, '0-2.5% OTM',\n            otm_pct < 5.0, '2.5-5% OTM',\n            otm_pct < 7.5, '5-7.5% OTM',\n            otm_pct < 10.0, '7.5-10% OTM',\n                            '10-15% OTM')             AS strike_distance,\n    round(avgIf(premium_pct, dte BETWEEN 25 AND 45), 2)  AS cost_pct_1_month,\n    round(avgIf(premium_pct, dte BETWEEN 80 AND 110), 2) AS cost_pct_3_month,\n    round(avg(iv) * 100, 1)                              AS avg_iv_pct\nFROM\n(\n    SELECT\n        (1 - toFloat64(strike_price) / toFloat64(underlying_close)) * 100 AS otm_pct,\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 = 'AAPL'\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 25 AND 110\n      AND underlying_close > 0\n)\nWHERE otm_pct >= 0 AND otm_pct < 15\nGROUP BY strike_distance\nHAVING countIf(dte BETWEEN 25 AND 45) > 0\n   AND countIf(dte BETWEEN 80 AND 110) > 0\nORDER BY min(otm_pct)","computed_at":"2026-10-04T15:40:04.346985+00:00","elapsed":0.003850597}