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Options Greeks and Risk

See how an option's value changes with price, time and volatility.

About this course

Delta, gamma, theta, vega and implied volatility, and how they interact in real positions, with worked payoffs and risk scenarios.

What you will learn

  • Describe each Greek and what it measures
  • Explain how implied volatility moves an option's price
  • Build and stress-test a simple spread
  • Size a position from the worst case

Learning outcomes describe knowledge and skills. They are not a promise of trading results.

Syllabus

Draft: Draft outline
Module 1The Greeks2 lessons
  1. Delta and gamma

    Sensitivity to price.

    16 min
  2. Theta and vega

    Sensitivity to time and volatility.

    16 min
Module 2Structures and stress2 lessons
  1. Spreads

    Shaping risk with two or more legs.

    18 min
  2. Stress-testing a position

    What if the market gaps?

    14 min

Before you start

  • Futures and Options Fundamentals

Your mentor

Derivatives Faculty

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Futures, options and expiry-day risk (placeholder profile)

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Questions about this course

Does this course promise any result?

No. It teaches how the market and the product work and how to manage risk. Results in markets are never guaranteed.

Will I be told what to buy or sell?

No. There are no tips, signals or personal recommendations. You learn to build and judge your own process.

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