Theta decay gets vicious after Wednesday on weeklies. People think they get it, but they’ve never actually done the math on their position size. Take your theta number, multiply it by your contracts - that’s cash vanishing daily. Do this before entering any trade within 10 days of expiry.
This video shows exactly how theta works in those final days. Traders get blindsided by the speed because they never learned the acceleration curve.
Time decay hits hard in those final days. Most options expire worthless on Friday if they are out of the money. Closing positions by Tuesday or Wednesday is a safe move. Even profitable trades can get crushed by theta. There is just not enough time left for the option to move your way.