An area of finance where Greeks are most used is the derivatives market. The nature of derivatives itself has created room for the existence of Greeks. The sensitivity of option prices to change in the underlying and factors affecting the underlying are measured using the Greeks. In option trading these Greeks have different impact on calls and puts. This article talks about the use, meaning, and implication of Greeks in the option market.

Heroes are generally defined as those who do something dangerous for others. However, Greek heroes Hercules, Bellerophon, Theseus, Odysseus and so on were believed to be selfish and antisocial. Is this a fact or myth? Nobody knows. Similar is the plight of option Greeks named Delta, Gamma, Vega, Theta and Rho, even they are believed to be very mysterious and confusing in nature. But this is surely a myth and as you read on, you will find out for yourself.

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