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Options Greeks Explained: A Practical Guide to Greeks, IV, and Trade Management

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Options feel confusing for one most traders try to trade them like stocks. They focus on direction—then get blindsided by time decay and implied volatility. That’s when you hear, “Theta crushed you,” or “IV collapsed,” and it sounds like a mystery.

It’s not a mystery. It’s exposure.

Options Greeks Explained is a practical, beginner-friendly guide that teaches you how options actually behave—so you can stop guessing and start managing trades with a simple, repeatable framework.

Inside, you’ll learn how to diagnose any option’s movement using the only three drivers that

Price (Delta)

Time (Theta)

Implied Volatility (Vega)

…and how Gamma explains why your Delta changes and why options can suddenly feel “fast.”

This isn’t a math textbook. It’s a clear system you can apply immediately—whether you trade calls and puts, covered calls, cash-secured puts, or basic spreads.

What you’ll get from this bookA plain-English explanation of Delta, Gamma, Theta, Vega, and Rho

How implied volatility (IV) changes option prices even when the stock barely moves

Why you can be right on direction and still lose money (and how to prevent it)

The difference between intrinsic value vs extrinsic value (and why it matters)

How to avoid the most common beginner buying “cheap” options with low responsiveness

A practical trade management framework built around rules, not emotions

The Quick Start “10-minute setup” you can use before every

No sentence, no trade

Name the driver before you act (Price / Time / IV)

Define the 3 boundaries (price invalidation, time deadline, volatility condition)

Who this book is forIf you’ve ever

“Why did my option lose value when the stock went up?”

“What is theta decay and how does it actually work?”

“What is implied volatility and why does it crush premiums?”

“How do I use Greeks to manage risk?”

…this book is for you.

You’ll finish with a simple playbook you can use every time you open an option

Define exposure → define risk → manage by drivers → stay disciplined.

Options Greeks Explained will help you trade with clarity, patience, and control—because in options, the biggest edge is not prediction. It’s disciplined exposure management.

Buy now and build the one skill most options traders never knowing what you’re holding before you click.

75 pages, Kindle Edition

Published December 26, 2025

About the author

Max Koren

84 books

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