What Is the Options Trading Equivalent of Disincentivizing Short-Term, Opportunistic Behavior?

The primary disincentive for short-term, opportunistic options trading is the effect of time decay or Theta. Theta measures the rate at which an option's extrinsic value erodes as it approaches expiration.

Short-term, opportunistic options often have a high time value component. The rapid decay of this value disincentivizes holding the option for quick, small gains, similar to how PPLNS discourages pool hopping by making short-term rewards less attractive.