re: dealforfree ... bohemian Thanks Rembrand for your kind...

re: dealforfree ... bohemian Thanks Rembrand for your kind comments.
Going on to the question of theta - time decay of ETO, imho it will vary greately with the time to expiry of ETO.
While I have not researched the subject very deeply and have not done any number analysis, from experience I am aware that in the opt close to expiry the time value decay is a great deal higher than in opt with say 9 months to go. From memory the decay is exponencial starting with very close to zero for a long term and acelerating exponentialy with highest decay in last weeks or days of option life.
Compared to this our CFD has a flat rate of decay if you want to call it that - interest on the long position.

One advantage of CFD I suppose is that it is open ended
wheras ETO do terminate so in your comparasment you ought to treat the CFD as long term option or warrant.

I would like to state that I was in no way critical of CFD's just used rather plain language in order to make comlex matter a bit more simple.

Also if you forgive my curiosity, what on Earth you want to do with the theta? I suppose it represents the holding costs but in the end you realy want to find something that moves your way and holding cost is just something we have to pay.
Another point to make is that CFD is not an option in the sence that if you buy a call ETO you can let it expire by doing nothing but with CFD you have to close the position by buying it back. It resembles a future or future combined with option - FUTION realy.

Good luck - but beware of Greeks bearing gifts :-)
Bohemian