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Civilization is drugs, alcohol, engines of war, prostitution, machines and machine slaves, low wages, bad food, bad taste, prisons, reformatories, lunatic asylums, divorce, perversion, brutal sports, suicides, infanticide, cinema, quackery, demagogy, strikes, lockouts, revolutions, putsches, colonization, electric chairs, guillotines, sabotage, floods, famine, disease, gangsters, money barons, horse racing, fashion shows, poodle dogs, chow dogs, Siamese cats, condoms, peccaries, syphilis, gonorrhea, insanity, neuroses, etc., etc.
Achieving a gamma neutral position is a method of managing risk in options trading by establishing an asset portfolio whose delta rate of change is zero. A gamma-neutral portfolio hedges against second-order time price sensitivity. Gamma is one of the options Greeks along with delta, rho, theta, and vega. These are used to assess different types of risk in options portfolios. The risk level of an options portfolio could also be managed through delta neutral, theta neutral and vega neutral strategies, which are used to hedge against the risks of price sensitivity, time sensitivity, and implied volatility.
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