Expiry: the day the maths changes
As expiry approaches, two Greeks go to war. Theta accelerates, rewarding sellers. Gamma explodes, punishing them for being wrong even slightly. Every expiry-day concept on this page is a consequence of that single tension. These are concepts, not systems — and certainly not signals.
What are expiry strategies? Expiry strategies are concepts built around how option Greeks behave as time to expiry approaches zero. Theta decay accelerates while gamma rises sharply, so small moves in the underlying produce disproportionate changes in an option's value. Weekly, monthly and zero-days-to-expiry contracts each express this differently.
Weekly Expiry
Direction-agnosticWeekly Expiry refers to index option contracts that expire within days rather than a month, carrying less total time value but much higher theta and …
Monthly Expiry
Direction-agnosticMonthly Expiry refers to index and stock option and futures contracts that expire at month-end, carrying more total time value, slower per-day decay,…
Zero Days to Expiry (0DTE) Concepts
VolatileZero Days to Expiry concepts describe the day a contract expires, when at-the-money gamma reaches its maximum and delta becomes a step function, so a…
Expiry Day Neutral Approaches
NeutralExpiry Day Neutral Approaches are neutral option structures placed near the settlement zone on expiry, where the theta collected is a fraction of a m…
Expiry Day Volatility Concepts
VolatileExpiry Day Volatility concepts describe how realised and implied volatility behave on the final day — measured intraday volatility often rising into …
Theta Harvest Concepts
NeutralTheta Harvest concepts describe collecting option time decay through short-premium positions, and the honest accounting behind it — theta is not inco…