The Greeks are sensitivities of a financial claim value to model inputs, expressed through partial derivatives. The option delta measures sensitivity to the underlying price; a delta hedge uses that sensitivity to cancel first-order price exposure.
In finance, particularly in the context of options trading and derivatives, "Greeks" refer to a set of metrics used to measure the sensitivity of an option's price to changes in various underlying factors. Each Greek represents a different dimension of risk and can help traders understand how different variables can affect the value of options and other derivatives.
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