We all know the theory: options lose value every calendar day, not just trading days. So from Friday close to Monday open, you’ve got roughly 2–3 days of Theta decay baked in, even though the market is closed.
But in practice, I’m curious:
* Do you genuinely **notice** weekend decay in your P&L, or does it feel more like “noise” compared to other moves (gap ups/downs, IV changes, news)?
* Do you **adjust your strategies** around weekends at all? For example:
* Avoiding holding long options over the weekend
* Buying earlier in the week instead of on Friday
* Preferring spreads or shorter-dated contracts to reduce the impact
* Or just ignoring it and focusing on directional risk
Also, for anyone who’s looked at this more closely: do you feel the decay comes mostly on **Friday** (as the market prices in the weekend), or do you see a clear gap effect on **Monday morning** when things reopen?
I’m not pushing any view here, just trying to gauge how much this actually matters in real trading versus textbook models. If you’ve got data, screenshots, or even just strong personal experience, I’d love to hear it.