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Why Is Theta Typically Negative for a Long Option Position?

A long option position (buying a call or a put) is a wasting asset because its value inherently decreases as time passes and expiration approaches. Theta measures this rate of decay.

Since the passage of time is detrimental to the option buyer's position, the Theta value is negative, reflecting the loss of extrinsic value.

Is It Possible for a Long Option to Have a Positive Theta?
What Is the Relationship between Theta and an Option’s Time Value?
Can an Option’s Extrinsic Value Ever Be Negative?
How Does the Time Value of an Option Decay, and What Is the Relevant Greek?