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The ancient Greeks were master storytellers. Homer’s epic poem Iliad describes the famed city of Troy, a beautiful seacoast square, which might still be standing had it not fallen for the ruse of the Trojan Horse.
The Trojan Horse, apparently left behind as a gift – a reward – was viewed with much skepticism. According to the poem, many inhabitants cautioned, “Somewhat is sure designed by fraud or force; trust not their presents, nor admit the horse.
Despite the warnings, the magnificent horse was wheeled behind city walls. But inside were hiding some forty warriors who swiftly destroyed the city in the middle of the night. The risk was hidden.
Today, for option traders, the Greeks are still master storytellers but of a much different kind. Unlike the warriors of Iliad, these Greeks are simply letters. But they tell an equally important story – the story of risk hiding in your option positions. They can drop subtle hints--or raise red flags. To understand the warnings, you must understand the Greeks.
Delta, Gamma, Theta, Vega, Rho. They may all be Greek to you now but they’ll make perfect sense after taking our Greeks class. If you don't understand them, you'll never see them hiding inside your portfolio.
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