Iron Condor
Greeks · 8 min

How each Greek evolves over an option's life

Greeks are not constants. Each one changes shape as expiration approaches, and the changes interact. Sense for the dynamics beats memorising a single snapshot.

In this lesson

  • Delta: gentle, then sharp
  • Gamma: small early, peaks near expiration
  • Theta: gentle, then accelerating
  • Vega: high early, fades to zero

Read the full lesson in the app

The complete lesson, with worked examples, callouts, and a quiz to test yourself, is in Iron Condor Options.

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