vega
options-greeks · Apr 6, 2026 · 16 min read

Options Greeks: The Complete Guide to Reading Your Trade's P&L

Options Greeks: The Complete Guide to Reading Your Trade's P&L March 17, 2026. You sold a 20-delta strangle on SPY, collected $9.04 in premium, and waited. The next morning, SPY dropped $12 and implied volatility spiked 3 points. Your account showed a $440 loss on

Read article →
options-greeks · Apr 6, 2026

Options Greeks: The Complete Guide to Reading Your Trade's P&L

Options Greeks: The Complete Guide to Reading Your Trade's P&L March 17, 2026. You sold a 20-delta strangle on SPY, collected $9.04 in premium, and

16 min read
vega · Apr 6, 2026

What Is Vega in Options? The Greek That Actually Drives Your P&L

You sold a 20-delta strangle on SPY at 31 DTE. Five quiet days pass. Theta drips $173 into the account. Then implied volatility spikes 2 points overnight, and vega rips

9 min read