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Courses · Course 1 · Foundations of Options
Foundations of Options: Core Concepts
What an option is, the difference between calls and puts, and the vocabulary behind every trade.
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Course 1 · Foundations of Options
Start here. The core mechanics, taught in order.
LESSSON 1
The Greeks: An Overview
Meet delta, gamma, theta, and vega — the four forces behind every price move.
Lesson 2
Delta
Directional exposure and the closest thing options have to a probability gauge.
Lesson 3
Gamma
How delta itself changes — and why dealers care so much about it.
Lesson 4
Theta
Time decay, and how it quietly works for or against your position.
Lesson 5
Vega
Sensitivity to volatility, and why it can dominate a trade around earnings.
LESSSON 6
Rho
The interest-rate Greek — small, but worth understanding
Lesson 7
Putting the Greeks Together
How the Greeks interact in a real position you actually hold.
Keystone · Understanding Market Volatility
VIX, gamma, skew, and the signals beneath them.
Keystone · Gamma Exposure: Complete Guide
The deepest treatment of GEX anywhere on the web.