ThetaForge
PROGreeks & Risk · WebSocket Streaming · Pro Tier
Overview
ThetaForge is the Theta Harvest Overlay — a real-time WebSocket window that distills aggregate time decay into a single headline metric: Total Theta (K/day). It sums the call and put theta values from the live gamma grid and displays the result as thousands of dollars of daily time decay.
While the HTTP-based Theta Decay window provides a per-strike breakdown with charts, ThetaForge provides the aggregate number in real-time — ideal for persistent monitoring and quick reads on whether time decay is accelerating or decelerating across the chain.
Key Features
- Total Theta metric: Aggregates call and put theta across all grid rows: Σ(callTheta + putTheta) / 1000, displayed as thousands per day (K/day).
- Real-time WebSocket streaming: Theta updates with every WebSocket tick, reflecting live changes in the options positioning.
- Clean metric card display: Focused, distraction-free layout — one prominent metric card with the total theta value.
- Connection status badge: Live/Connecting/Disconnected indicator with automatic exponential backoff reconnection.
- Guide Panel: Four-section educational overlay — What is ThetaForge, Reading the Metrics, Trading Strategies, and Pro Tips.
- AI-Generated Considerations: ML-powered analytical considerations based on the current aggregate theta reading — delivered for your independent evaluation. Methodology →
Metrics Reference
| Metric | Formula | Interpretation |
|---|---|---|
| Total Theta (K/day) | Σ (callTheta + putTheta) / 1000 | Total daily time decay across all options. Higher absolute values = more premium decaying per day, indicating active options positioning. |
Use Cases
- Daily decay monitoring: Track total theta throughout the session. Rising theta = increasing options activity. Falling = positions being closed or rolling.
- Premium selling timing: Compare theta across multiple tickers using ThetaForge. Compare the ticker with the highest total theta — it shows the most daily time-decay potential, which may be relevant for your premium-selling analysis.
- Expiration week amplification: Watch total theta spike during OPEX week as near-dated options undergo accelerated decay.
How to Launch
Open the Window Launcher — click + or press L.
Search for ThetaForge or browse Greeks & Risk.
Click to launch and enter a ticker. WebSocket connects automatically.
The Total Theta (K/day) card updates in real-time. Monitor for shifts in aggregate time decay.
Data Source & Tier
Real-time theta values via authenticated WebSocket from the gamma grid. ThetaForge is on the Pro tier ($79/month). View pricing →
Related Windows
- Theta Decay — Foundational theta data that ThetaForge expands upon
- EigenHedge™ — Multi-factor hedging analysis incorporating theta exposure
- Vega Concentration — Volatility sensitivity data for multi-Greek analysis