Option Strategies with Negative Theta

This is a list of option strategies which have negative theta (they lose with passing time):

• Bear Call Ladder (also Short Call Ladder)
• Bull Put Ladder (also Short Put Ladder)
• Call Ratio Backspread
• Long Call
• Long Call Synthetic Straddle (also Synthetic Straddle)
• Long Call Synthetic Strangle (also Synthetic Strangle)
• Long Guts (also Guts)
• Long Put
• Long Put Synthetic Straddle
• Long Put Synthetic Strangle
• Long Straddle (also Straddle)
• Long Strangle (also Strangle)
• Protective Call (also Married Call)
• Protective Put (also Married Put)
• Put Ratio Backspread
• Reverse Iron Butterfly
• Reverse Iron Condor
• Short Calendar Call Spread
• Short Calendar Put Spread
• Short Call Butterfly
• Short Call Condor
• Short Diagonal Call Spread
• Short Diagonal Put Spread
• Short Put Butterfly
• Short Put Condor
• Strap
• Strip
• Synthetic Long Call (also Synthetic Call)
• Synthetic Long Put (also Synthetic Put)

See also option strategies with positive theta and theta neutral option strategies.