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Gamma (Greek)

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On Gamma and Holding Positions Through Expiration
Condor Options  Nov 25  Comment 
One of the most popular posts I've written is "The Bucking Gamma Bull," in which I said: Think of your deltas as a mechanical bull, and your gammas as the rate and intensity at which the bull throws you around.  The ride starts off quietly, but...
Gamma Medica-Ideas Wins Industry Innovation Award From the World Congress on Medical Physics
Marketwire  Nov 24  Comment 
NORTHRIDGE, CA -- (Marketwire) -- 11/24/09 -- Gamma Medica-Ideas, Inc. ("GMI"), a leading developer of digital molecular imaging systems, announced today that it has been awarded an Innovation Award for its new prototype imaging system that combines
Gamma downgraded to "sell"
newratings.com  Sep 4  Comment 
LONDON, September 4 (newratings.com) - Analysts at ING Financial Markets downgrade Gamma Holding NV (ticker: GM6) from "hold" to "sell." The 12-month target price is set to €4. [more]
Gamma's Bankruptcy Shows Shift in Photojournalism
New York Times  Aug 10  Comment 
The company that owns the photo agency Gamma sought protection from creditors late last month, offering the latest sign of distress for photojournalism.
Gamma Agency That Captured Paris Uprising Declares Insolvency
Bloomberg  Jul 28  Comment 
Gamma, the French photo agency that captured the uprising in Paris in May 1968, the hostage-taking in Iran in 1979 and the Soviet invasion of Afghanistan, today told the Paris commercial court it can no longer pay its bills.
Gamma upgraded to "hold"
newratings.com  Jul 16  Comment 
LONDON, July 16 (newratings.com) - Analysts at ING Financial Markets upgrade Gamma Holding NV (ticker: GM6) from "sell" to "hold." The target price has been raised from €3 to €4. [more]
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Gamma, one of the five greeks used for measuring options risk, measures the rate of change of delta in relation to the change in the price of the underlying asset. It enables the trader to predict how the delta of his position will change based on the movement of the underlying asset.

Mathematically, gamma is the first derivative of delta and is used when trying to gauge the price of an option relative to the amount it is in or out of the money. When the option being measured is deep in or out of the money, gamma is small. When the option is near the money, gamma is largest.

Example

If an option position has a gamma of -15.7, then, all other things remaining the same, a $1 change in the price of the underlying will lead to a 15.7 decrease in the delta of the position.

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