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What Is the Relationship between Theta and Vega?

They are often inversely related; as Theta increases (near expiration), Vega typically decreases.
Greeks.Live23.11.25

What Is the Relationship between Theta and Vega?

Theta (time decay) and Vega (sensitivity to volatility) are often inversely related, especially for At-The-Money (ATM) options. As an option approaches expiration (Theta increases), its sensitivity to volatility (Vega) decreases, because there is less time for volatility to impact the final outcome.

Explain Why Theta Accelerates near the Option’s Expiration Date
How Does the Time to Expiration Affect the Gamma of a Near-the-Money OTM Option?
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