Greek Letters

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Delta - measures the change in an option's price with respect to the change in the underlying asset
 * Delta is an estimate for how much the price of an option will change when the price of the underlying asset changes by $1.

Theta - measures the time decay of an option; the rate of change to the value of an option over time


 * Theta is useful for determining how much an option will lose each day over a set perdiod of time.

Gamma - measures the change in delta with respect to the change in the underlying asset


 * Gamma is an estimate for how much delta will change when the price of the underlying asset changes by $1; it is an indicator of how stable the delta is.

Vega - measures the change in the value of an option with respect to a change in volatility.


 * Vega is an estimate for how much the price of an option will change when volatility changes by 1%.

Rho - measures the change in the value of an option with respect to a change in interest rates.


 * Rho is an estimate for how much the price of an option will change when interest rates change by 1%.
 * [[File:Derivatives.jpg]]
 * [[File:Derivatives.jpg]]