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Why Are Longer-Dated Options Typically More Expensive than Short-Dated Options for the Same Strike?

Longer-dated options have a greater extrinsic value, primarily time value, because there is more time for the underlying asset's price to move favorably before expiration. This increased probability of a significant price change justifies a higher premium.

They offer more flexibility and a lower rate of theta decay, which investors are willing to pay for.

What Is the Typical Theta Value for a Long-Dated Option versus a Short-Dated Option?
What Is the Impact of a Longer Time to Expiration on an Option’s Time Value?
How Does a Longer Time to Expiration Affect the Premium of an Option?
What Role Does Theta Play in the Decay of an Option’s Extrinsic Value?