Option Greeks

Option Greeks quantify an option's price sensitivity to each risk factor: delta to the underlying price, gamma to changes in delta itself, vega to implied volatility, and theta to time decay. They are the base vocabulary of options risk management.

For those who do not trade options, the most valuable use of the Greeks is understanding how dealer hedging feeds back into spot. When dealers are collectively short gamma they must hedge with the move — buying as price rises, selling as it falls — which amplifies volatility; long gamma does the opposite, damping it. This is why market character shifts systematically around large expiries. The distribution of vega exposure, meanwhile, determines how a volatility shock propagates.

Volume and market-structure metrics describe the size and distribution of trading activity. Methodologies differ sharply between venues (wash-trading filters, USD conversion), so confirm the accounting basis before comparing platforms side by side.

The live chart for this metric is still being wired up. Global volume, venue share and perp-vs-spot pages already carry real data.