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Define: Gamma Neutral Hedging
Gamma Neutral Hedging is hedging an options position to zero or nearly zero Gamma so that delta value does not change with changes in stock price thus reducing the price volatility of an options position.
Gamma neutral + Delta neutral hedging is also used for speculating in Vega changes, which is to speculate on changes in implied volatility. Gamma neutral is commonly achieved by buying or writing options of a different expiration date with enough offsetting gamma value to bring the main position into gamma neutral.
Read the full tutorial on Gamma Neutral Hedging.