{"slug":"what-is-option-theta","qid":"trace_theta","label":"The SPY $740 call's daily time decay deepens into expiry (May–Jun 2026)","post_title":"What Is Option Theta? Time Decay Explained","post_url":"/blog/what-is-option-theta#q-trace_theta","columns":["date","theta_per_day"],"rows":[{"date":"2026-05-01","theta_per_day":-0.153},{"date":"2026-05-04","theta_per_day":-0.147},{"date":"2026-05-05","theta_per_day":-0.163},{"date":"2026-05-06","theta_per_day":-0.208},{"date":"2026-05-07","theta_per_day":-0.201},{"date":"2026-05-08","theta_per_day":-0.209},{"date":"2026-05-11","theta_per_day":-0.229},{"date":"2026-05-12","theta_per_day":-0.23},{"date":"2026-05-13","theta_per_day":-0.232},{"date":"2026-05-14","theta_per_day":-0.248},{"date":"2026-05-15","theta_per_day":-0.239},{"date":"2026-05-18","theta_per_day":-0.238},{"date":"2026-05-19","theta_per_day":-0.231},{"date":"2026-05-20","theta_per_day":-0.274},{"date":"2026-05-21","theta_per_day":-0.236},{"date":"2026-05-22","theta_per_day":-0.27},{"date":"2026-05-26","theta_per_day":-0.265},{"date":"2026-05-27","theta_per_day":-0.277},{"date":"2026-05-28","theta_per_day":-0.254},{"date":"2026-05-29","theta_per_day":-0.27},{"date":"2026-06-01","theta_per_day":-0.331},{"date":"2026-06-02","theta_per_day":-0.271},{"date":"2026-06-03","theta_per_day":-0.407},{"date":"2026-06-04","theta_per_day":-0.364},{"date":"2026-06-05","theta_per_day":-0.373},{"date":"2026-06-08","theta_per_day":-0.442},{"date":"2026-06-09","theta_per_day":-0.493},{"date":"2026-06-10","theta_per_day":-0.459},{"date":"2026-06-11","theta_per_day":-0.539},{"date":"2026-06-12","theta_per_day":-0.494},{"date":"2026-06-15","theta_per_day":-0.664}],"shape":"series","sql":"SELECT date,\n       round(avg(theta), 3) AS theta_per_day\nFROM global_markets.options_greeks\nWHERE ticker = 'O:SPY260618C00740000' AND date BETWEEN '2026-05-01' AND '2026-06-17' AND implied_volatility > 0.02\nGROUP BY date ORDER BY date","computed_at":"2026-07-15T06:07:50.494593+00:00","elapsed":0.00146285}