The amount by which an option's premium exceeds the intrinsic value of the option. Usually relative to the time left to expiration.

期权的期权金高于其内在价值的部分。通常与距离到期日的时间有关。

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The time value of an option is the difference between the premium on option and its intrinsic value.

期权的时间价值是期权费用与期权内在价值的差额。

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Using options allows one to enjoy a greater level of volatility as the strikes being away from the market turn all option premium over to the time value.

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Rising levels of options implied volatility on CAT as well as bearish movement in the share price will benefit the investor by lifting premium on the puts, while the erosion of time value on the long position will work against him.

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In 2007 the fund traded at a 50% premium to net asset value, in part due to their high distribution yield at the time.

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