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The One Number That Tells You Which Option to Sell

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Breakdown

0:00lesson

Theta decay in options trading

  • Theta = options value decay per day
  • Out-of-the-money options decay faster near expiration
  • Directional bets on stock/market/volatility are avoided
  • Focus on time decay as predictable profit source
2:20COMET· ticker

Comcast short put example

  • Stock price = $23.50
  • Short 23 put capital req = $423
  • Buying power effect remains stable across expirations
  • Theta return benchmark = 0.1% daily
4:57lesson

Theta return calculations

  • 100 capital = 10 cents theta/day
  • 20 trades = 2% daily return
  • Portfolio theta offsets directional losses
  • Consistent theta generates long-term returns
7:16COMET· ticker

Strike price adjustments

  • 22 strike capital req = $233
  • 21 strike theta = 20 cents/day
  • Theta return = 0.1% of capital
  • Portfolio becomes theta-generating machine

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