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What Is the Difference in Theta Exposure between a Long Call and a Long Put?

For options with the same strike and expiration, the absolute Theta exposure is very similar, especially for at-the-money options. However, there can be slight differences due to the cost of carry (interest rates and dividends/funding rates in crypto).

Generally, a long call's Theta is slightly less negative than a long put's Theta due to the interest rate component of option pricing.

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