Buying stocks is relatively an easy process. If you think it is going up, you buy it. But when using options, there are several additional layers of complexity and decisions to be made – which strike price? which expiration? etc. Greeks can be used to help investors make these decisions. Thorough knowledge of option Greeks is very important to maintain a large portfolio efficiently. It gives thorough understanding of individual positions as well as overall portfolio positions. Every Greek has its unique positioning and importance while taking any trade position. By evaluating and maintaining a certain level of individual Greek, one can maintain a profitable portfolio position within a reasonable risk level. Without the proper understanding of Greeks one can’t play with them or can’t use them to one’s advantage.

Creating portfolio is difficult; maintaining the portfolio is even difficult; but initiating a trade position, in itself, is a result of so many typical observations. If the trade is in options then the problem becomes so huge for a retail trader that he is being left alone by everyone in the battle field. Then comes the saviour as Greeks for his rescue and show him the path ahead. With the help of first order Greeks portfolios can be created and maintained for the entire month till the expiry. By evaluating and maintaining a certain level of individual Greek one can maintain a profitable portfolio position within a reasonable risk level.