Difference b/w Theta and Decay in sensibull

What is the difference b/w Theta and Decay in sensibull.

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Definitions taken from Sensibull


Time value decay due between now and the next market open if everything else stays the same. A positive value shows you will gain money and a negative value shows you will lose money. In the second last or last week of expiry, around Friday afternoon, IV’s would have already fallen due to Weekend effect. So, the actual decay will usually be 1/3 to 2/3 of what is shown here.


Change in your P&L after one day if nothing else changes.

Example: Theta of -500 Rs means you lose 500 Rs per day and theta of +500 means you gain 500 Rs per day.