Option Greeks are statistical values that indicate the risk factors that could affect the value of an option’s contract. There are five main Greeks: Delta, Gamma, Theta, Vega, and Rho.

**The Delta**measures how the price of an option is expected to change per ₹1 change in the price of the underlying asset. It is essentially a measure of the option’s sensitivity to the underlying asset’s price.**The Gamma**reflects the rate of change for delta with respect to the underlying asset’s price. It represents the risk from the rate of change of the price of the underlying asset.**Theta**represents the rate of change between the option’s price and the time, or the time sensitivity of an option’s price. It measures the time decay of the option’s price.**Vega**represents the sensitivity of a derivative’s price to changes in the volatility of the underlying asset. It measures how much the option’s price is estimated to change for every 1% change in the underlying asset’s volatility.**Rho**, less commonly used, measures the impact of an interest rate change on the price of an option. It gauges how a change in the interest rate can impact the option’s price.

These Greeks allow traders to assess and manage the risk associated with different options positions better.

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