Quotes of the day:
First responders did not find any drug paraphernalia or illegal drugs at the residence, the cause of death into Jackson Odell is pending an autopsy and toxicology report.
Gamma is the rate of change in an option’s delta per 1-point move in the underlying asset’s price. Gamma is an important measure of the convexity of a derivative’s value, in relation to the underlying. A delta hedge strategy seeks to reduce gamma in order to maintain a hedge over a wider price range. A consequence of reducing gamma, however, is that alpha will also be reduced.
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