Convexity, Options Trading, Volatility Trading, Moontower, Option Greeks.
collapse either exposure into the statement “if the stock goes up $1, I will make $5,000”. We are now using the word “delta” to refer to an exposure. We are agnostic as to whether it’s stock or call options. Either way, we have the same root on — we want the stock to go up, and we know how much we