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.