Gamma as a Function of Time

Hard Delta vs. Soft Delta

Not all deltas behave the same. Discover how in-the-money options with "hard delta" increasingly act like stock, while out-of-the-money "soft delta" options behave differently—and how this connects to intrinsic and extrinsic value.

Gamma: The Accelerator Behind Your Delta

Gamma measures the rate of change in delta for every $1 move in the underlying. Discover why gamma is highest for at-the-money options, how it accelerates delta as a stock moves in your favor, and why high gamma can work against you just as quickly if the stock reverses.

Delta Explained: Reading Your Options Speedometer

Delta measures how much an option's price changes for every $1 move in the underlying stock. See how it scales from near zero for deep out-of-the-money options to 1.00 for deep in-the-money options, and why at-the-money options consistently carry a delta.

Evaluating Delta as a Probability Proxy

Break down a complex math concept into a relatable "odds of winning" metric that helps beginners evaluate potential risk.

FAQ: Infinite Volatility To Zero Gamma

Explore the counterintuitive relationship between implied volatility and Gamma. OIC instructor Mat Cashman uses an infinite-volatility thought experiment to explain why higher vol means lower Gamma.

FAQ: What is a Gamma Flip?

Learn what traders mean when they reference a Gamma flip.

The Definition of Gamma & Gamma Through Metaphor

n this video, Mat will explain Gamma through metaphor and illustrate how Gamma can be used to understand Delta’s sensitivity to stock price.