Agar aapne kabhi ek option hold kiya hai, underlying ko mushkil se hilte dekha hai, aur phir bhi apna premium sikudte dekha hai, toh aap theta se mil chuke ho. Yahi wajah hai ki ek options buyer direction pe sahi ho kar bhi paisa haar sakta hai. Aur yeh jitna lagta hai usse simple hai.
Theta kya hai
Theta woh value hai jo aapki option har din khoti hai, sirf ek din guzarne se. Aur kuch hone ki zaroorat nahi: stock ko hilna nahi padta, news ko badalna nahi padta. Sirf time aapke premium se har din ek tukda le leta hai.
Yaad rakho ki ek option ki price do hisson se bani hai: abhi ki asli keemat (intrinsic value) aur "maybe" ki price (time value). Humne woh yahan cover kiya. Theta us time-value wale hisse ka roz ka pighalna hai. Kyunki time value sirf isliye exist karti hai ki time bacha hai, aur har din thoda kam time bachta hai, woh din-ba-din risti rehti hai, aur expiry pe theek zero ho jaati hai.
Agar aapki option ka theta, maan lo, 4 dikhta hai, iska matlab premium ke about ₹4 per unit per day girne ki ummeed hai agar aur kuch na badle. Ek 35-unit Bank Nifty lot pe, woh about ₹140 ek din chupke se aapki position se ja raha hai, sirf hold karne ke liye.
Kyun matter karta hai ki theta hamesha buyer ke against hai
Yeh woh key point hai jo beginners miss karte hain. Jab aap ek option KHAREEDTE ho, theta hamesha aapke against kaam karta hai. Har din jab aap hold karte ho, aap thoda peeche se shuru karte ho. Jisne aapko option BECHA uske liye theta kaam karta hai: time decay unki income hai.
Toh ek buyer ke roop mein aap ek barabari ka khel nahi khel rahe. Aapko underlying ka kaafi, aur kaafi jaldi, hilna chahiye taaki roz ke bleed se aage niklo. Agar woh aapki taraf dheere hile, theta gains ko aapke collect karne se pehle kha sakta hai. Agar woh bilkul na hile, aap haarte ho, guaranteed, sirf calendar se.
Woh hissa jo Indian options buyers ko pakadta hai: yeh tez hota hai
Theta steady nahi hai. Yeh expiry ke paas accelerate hota hai. Ek option time value dheere khoti hai jab hafte bache hon, aur phir final dino mein tez aur tez, sabse steep girawat aakhri ek-do din mein.
Yeh India mein bahut matter karta hai, jahan itna retail volume weekly options aur khud expiry day pe hai. Ek weekly option lagbhag poori time value hoti hai, aur woh value poore hafte tez decay ho rahi hai, aakhri din brutally. Ek weekly option overnight hold karna, ya usse bura, weekend ke across, dino ka theta de deta hai jab market band hai. Expiry day pe, ek out-of-the-money option apni bachi value ka zyaadatar hissa kuch ghanton mein kho sakta hai, chahe aap kuch bhi karo.
Iske baare mein kya kare
Aap theta ko rok nahi sakte. Aap uska samman kar sakte ho.
Zyada der mat ruko. Jitni der aap ek khareedi option hold karte ho, utna theta pay karte ho. Agar aapki trade idea ek jaldi move ke liye thi aur move nahi aaya, toh ghadi ab aapki dushman hai, dost nahi. Yahi mechanical wajah hai ki ek losing option hold karna ("hope trading") aapko do baar bleed karta hai, aur kyun options pe averaging down itni khatarnaak hai: aap ek decay hoti position mein add kar rahe ho.
Saste, door wale options se savdhaan raho. Woh saste isliye hain kyunki woh lagbhag poori time value hain, woh hissa jo theta tabaah karta hai. "Affordable" option aksar wahi hoti hai jise theta sabse jaldi maarta hai.
Sirf chart nahi, calendar bhi dekho. Expiry mein kitne din, aur kya aap overnight hold karoge, yeh utna hi matter karta hai jitna aapki entry price. Time ek cost hai jo aap pay kar rahe ho chahe aap iske baare mein socho ya nahi.
Theta options khareedne se bachne ki wajah nahi hai. Yeh sabse zaroori cheez hai jo karne se pehle samajhni hai, kyunki yeh woh cost hai jo aapke enter karne ke second se tick kar rahi hai.
SubTrades aapke tradebook ko padh kar dikhata hai ki aapke option premium ka kitna hissa aapke hold karte hue decay hua, trade dar trade. Automatic, seedhe aapke tradebook se. Apni Zerodha, Dhan, Upstox, ya Angel One trades import karo aur day one pe dekho. Founding beta ke dauraan free.