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Options Greeks Calculator

Understand Delta, Gamma, Theta & Vega Instantly

Confused by options Greeks? Don't understand what delta, gamma, theta, and vega actually mean? Our calculator shows you exactly how each Greek impacts your trade—instantly, for any stock price, any expiration date.

The Problem: Greeks Are Invisible Without a Calculator

1
Four Different Greeks, Four Different Impacts — Hard to track mentally
2
Greeks Are Constantly Changing — What matters today changes tomorrow
3
Multi-Leg Positions Are Impossible to Calculate Manually — Spreads multiply complexity
4
You Can't See Scenarios Without Real-Time Calculation — What if stock moves 10%? What if IV spikes?

The Solution: Options Greeks Calculator

✅ Real-time Greeks — Delta, gamma, theta, vega all calculated

✅ Scenario Analysis — See Greeks at different stock prices

✅ Multi-leg Support — Calculate Greeks for spreads, straddles, etc.

✅ Greeks Visualized — Charts showing delta/gamma/theta/vega impact

✅ Simple Explanations — What do these numbers actually mean?

✅ Profit/Loss Projection — Current P&L and breakeven at expiration

See Greeks in Action: Try the Strategy Analyzer

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How It Works

1

Enter Any Option

Stock ticker, strike price, expiration date, call or put

2

See Current Greeks

Delta, gamma, theta, vega all calculated with real market data

3

Run Scenarios

Ask "what if" questions: stock moves to $250? IV spikes 10%? 1 week passes?

Real Example: AAPL Call Option Analysis

Your Scenario:

  • Considering buying a $240 AAPL call
  • Current AAPL price: $238
  • Call price: $2.50
  • 30 days to expiration

Your Greeks:

  • Delta 0.55: If AAPL moves $1 → your call moves $0.55
  • Gamma 0.04: If AAPL moves $1 → delta becomes 0.59
  • Theta -$0.08/day: Time decay costs you $0.08 per day
  • Vega +$0.18 per 1% IV: If IV rises 1%, call worth $0.18 more

Decision: Bullish on AAPL ✅, time decay manageable ✅, IV potential ✅ → Buy the call

Key Metrics

Delta

0.55

Gamma

0.04

Theta

-$0.08/day

Vega

+$0.18 per 1% IV

Related Resources

Options Greeks Explained: The Complete Guide
Delta Hedging: How Professional Traders Manage Risk
Gamma Risk: Why 0DTE Positions Explode
Theta Decay: Friend or Foe?
Vega Trading: Selling Volatility for Income

Frequently Asked Questions

What does delta = 0.5 mean?

Your option is equivalent to owning 50 shares. If stock goes up $1, your call goes up ~$0.50. If stock down $1, your call down ~$0.50.

Can delta be negative?

Yes, for puts. Delta ranges 0 to -1 for puts. Delta -0.5 on a put means it moves $0.50 for every $1 stock move, in the opposite direction.

What's high gamma vs low gamma?

High gamma = delta changes fast when stock moves. Risk if stock moves against you, benefit if it moves for you. Low gamma = delta barely changes.

Is negative theta always bad?

Only if you're long options. If you're short options, negative theta = positive theta for you. Short options profit from time decay.

When should I care about vega?

When you expect IV to change. Buy options before earnings (expect IV spike). Sell options when IV is high (expect IV crush).

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