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Slovník pojmů a strategií
pro obchodování opcí
Kompletní slovník opcí: strategie, pojmy, řecká písmena a postupy pro výpis opcí. Přehledně, srozumitelně, pro začátečníky i pokročilé. Naučte se obchodovat opce efektivně.
Greeks
Beginner, Advanced
Theta
It measures the time decay of an option.
Detail
Theta shows how much an option will lose value each day if all else remains the same. For example, a theta of -0.05 means that the option will lose $0.05 per day.
Theta is key for option writing. The shorter the time to expiration, the faster the option loses value (increasing theta). The option writer benefits from time decay. The option buyer, on the other hand, suffers from negative theta as the option value decreases day by day.
Optimal conditions
Theta plays a key role in option-selling strategies (e.g. covered call, cash secured put), as they profit from time decay.
Max profit
It does not determine directly, it depends on the chosen option strategy.
Max loss
It does not determine directly, it depends on the chosen option strategy.
Risks
For the option buyer, theta represents a loss of value over time. For the writer, the underlying asset moves against the position before theta takes effect.
Greeks
It measures the time decay of an option's value.
Variations
Positive Theta (listings), Negative Theta (purchases).
Usage example
A written call on SPY with a theta of 0.05 means a profit of $5 per day, all else being equal. The buyer of a put option with a theta of -0.07 loses $7 per day.
DTE
Theta increases as expiration approaches. It decreases the most in the last weeks until expiration.
IV (implied volatility)
A higher IV can reduce the theta effect (a higher premium will slow down the decay).
Premium
Theta affects the decline in premium over time.
Margin
Options listing = margin requirement.
Poznámky
Key for options listings. Theta is the fundamental advantage of an options listing. For option buyers, it is a disadvantage.
Tags
theta, time decay, option time, Greek letters
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