What is option greek?

Options can be exercised and converted into shares of the underlying security at a certain price, known as the strike price. Each option has an end date, known as the expiration date, and a value associated with it, known as the premium.

The premium of an option is usually based on an option pricing model that results in price fluctuations. They are usually considered in conjunction with an option pricing model to understand and evaluate the associated risks. This price sensitivity is measured by options greeks. There are 5 options greeks: Delta, Gamma, Vega, Theta, and Rho.