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Chapter 6. An Introduction to the Greeks

Chapter 6. An Introduction to the Greeks

The Greeks are simply sensitivities to options risk characteristics. The names are taken from actual Greek words. To understand why options have sensitivities to various factors, all we have to do is go back to our original definition of an option:

  • The right, not the obligation

  • To buy or sell an asset

  • At a fixed price

  • Before a predetermined date


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