Weekend theta is the time decay options lose over Saturday and Sunday even though the market is closed — the clock keeps ticking toward expiration regardless of whether anyone's trading. It mostly matters for multi-day holds, and it's a common surprise for beginners.
Why decay happens on closed days
Theta decay is a function of calendar time to expiration, not just trading hours. So an option loses time value over the weekend even though no trading occurs — the days still pass, expiration still gets closer, and the extrinsic value still erodes. Market-makers know this, so the decay tends to get priced in around it, but the practical effect for a holder is real: an option can be worth less Monday morning than Friday close, all else equal, purely from the weekend.
Why it barely matters for 0DTE
For a 0DTE scalper, weekend theta is largely irrelevant — you're in and out the same day and never hold over a weekend. It matters for multi-day option holds: if you carry a position from Friday into the next week, expect the weekend bleed. Since NoVo's whole approach is intraday same-day scalping, this is more of a general options-education point than a daily concern for its users.
The market rests on weekends; your option's clock doesn't. Hold over Friday and you pay for two days no one traded — which is exactly why scalpers don't.
The quick takeaway
Weekend theta is time decay over the closed weekend — real for multi-day holds, negligible for same-day 0DTE trading where you never carry overnight, let alone over a weekend. It's a good reminder that options decay by the calendar. For a scalper closing daily, it's simply not a factor — another quiet advantage of the same-day approach.