Why the Greeks Don't Add Up to Your P&L
The Greeks never sum exactly to your option P&L. Here is the Taylor expansion they come from, the cross terms inside the leftover, and why path matters.
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What Determines an Option's Price?
What determines an option's price? Five inputs you can look up, plus volatility. We reprice one real AAPL call and rank each input by dollars. See the ranking.
What Is IV Crush? Measured on Real Earnings
IV crush is the overnight collapse of option implied volatility after an event. We scanned six weeks of the US options tape and measured every big one.
How Earnings Move Option Greeks
Pin one real Tesla call through its Q1 earnings 8-K and watch implied volatility, price and delta move as the result lands and the IV crush follows.
The Option Greeks Explained: Delta to Rho
Delta, gamma, theta, vega and rho, the five option greeks, demonstrated by tracing one real SPY call through its whole life against the stock.
What Is Option Vega? Volatility Sensitivity
Vega measures an option's sensitivity to implied volatility. Watch IV spike on a real SPY call, see vega grow with time, and drive the earnings vol crush.
What Is Implied Volatility? IV, Explained
Implied volatility is the future move an option's price implies. See IV across stocks, the term structure, the volatility skew, and a year of SPY's vol regime.
What Is Option Theta? Time Decay Explained
Theta measures an option's daily time decay. Watch it deepen on a real SPY call into expiry, see decay accelerate, and why it's the seller's income.
What Is Option Gamma? Delta's Accelerator
Gamma measures how fast an option's delta changes. See the at-the-money bell, why it spikes near expiry, and how it powers 0DTE and the gamma squeeze.
What Is Option Delta? A Plain-English Guide
Option delta measures how much an option moves per $1 in the stock. Watch it track a real SPY call across the strike and see the moneyness S-curve.