Thread by @yashstocks

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@asitbaran @Raghunath_TL @itjegan @PRSundar64 Saw Mr. Asit thread on option greeks saying it's very important.
But I believe, Greeks are required only for beginners to understand how options work. Correct me if I am wrong.

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Once you know about how options work, then no need to consider any greeks, everything comes default while taking/adjusting positions. And by seeing underlying option prices, you can know about all the so-called greeks. After all, Price is the KING.

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1. You know in 4 days option value becomes 0 if the market is not moved. i.e theta
2. You know if the market moves up, ATM CE moves up too 0.5 times and ITM moves up by some factor say 0.7 and deep ITM moves by big factor say 0.9. i.e Delta

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3. You know if the market moves too much in one direction, assume UP, then the ATM call option will also move fast in accelerated speed i.e Gamma.
And during expiration week, since option premiums are less, the gamma risk will be more.

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4. You know if volatility goes up then option values also go up and vice versa. i.e Vega
5. No one cares about Rho as interest rates will be changed only once in a few months.