Options Greeks are a set of metrics used in options trading to measure the sensitivity of an option's price to changes in various factors that affect its value. They help traders understand and manage the risks associated with options positions. Here are the key option Greeks:

• Delta (Δ): Measures how much an option's price changes relative to a $1 change in the underlying asset's price. Call options have positive delta (0 to +1.00), while put options have negative delta (0 to -1.00). Delta can also estimate the probability of an option expiring "in-the-money" (ITM).
 
• Gamma (Γ): Measures the rate at which an option's delta changes for a $1 move in the underlying asset. It indicates how quickly delta will shift with price movements. Gamma is highest for at-the-money (ATM) options.
 
• Theta (Θ): Measures the rate of time decay of an option's value, indicating how much value is expected to be lost each day as expiration approaches. For option buyers, theta is typically negative (value loss over time), while for sellers it's positive (benefit from decay). Theta accelerates as the option gets closer to expiration.
 
• Vega (V): Measures an option's price sensitivity to changes in the implied volatility of the underlying asset. It shows the expected price change for every 1% change in implied volatility. Higher Vega means the option's value is more sensitive to volatility changes.
 
• Rho (Ρ): Measures how sensitive an option's price is to changes in interest rates. It indicates the expected price change for a 1% change in the risk-free interest rate. Rho is generally less significant than other Greeks.
 

Option Greeks help traders manage various risks:

• Delta (Δ): Directional risk based on the underlying asset's price.
• Gamma (Γ): Risk of rapid changes in delta.
• Theta (Θ): Risk of value loss over time.
• Vega (V): Sensitivity to volatility changes.