Greeks Chart: Delta, Gamma, Theta, Vega and IV

Where do I find the Greeks chart?

It opens from the live option chain (AOC Pro) or the replayed chain in the Back Tester:

• Δ CE or Δ PE in the chain header: opens the Greeks Graph for the whole chain.
• Greeks heading of the Greeks table below the chain: opens the same graph. The table shows only when Greeks table is on in Settings under Option chain (on by default).
• For one strike: tap the PE IV/Δ cell to open the Combined Price Chart and switch to its Greeks tab.

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What do the tabs and lines show?

The chain graph has tabs Delta, Gamma, Theta, Vega and IV (the per-strike version starts with IV). Each tab draws a green CE line (red on Theta), a red PE line (green on Theta), a blue CE minus PE line and a dashed grey Zero line. Tap a legend chip to hide a line. On the live chain it refreshes every 10 seconds.

Chain values are sums over the strikes in the band around support and resistance. Gamma is multiplied by 1,000 so it reads as a normal number. Put delta is negative, so the PE delta line sits below zero.

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What is in the Greeks table?

Rows IV, Delta, Vega, Gamma (times 1,000) and Theta, columns Call, Put and Diff (call minus put, green when positive, red when negative). It is the current snapshot of what the graph plots over time. Learn what each greek measures in option greeks.

How do I read the Greeks chart?

1. Start on Delta. Call delta rising and put delta getting more negative at the same time usually means the market moved to lower strikes; the reverse means it moved up.
2. Check IV. Put IV climbing faster than call IV is demand for downside protection.
3. On Theta, a growing gap shows which side is paying more decay; it speeds up into expiry.
4. Use Gamma on expiry day. A jump means at-the-money options have become very sensitive, and premiums can swing hard on small moves.

Worked example

NIFTY at 10:00: header shows Δ CE 3.12 and Δ PE minus 1.94. By 14:00 it is 2.41 and minus 2.63. Call delta is shrinking and put delta growing: the band of strikes has drifted to where puts are closer to the money, which matches a slide from 22,560 to 22,470.

On the IV tab the PE line rose from 98 to 109 while CE stayed flat. Put buyers are paying for protection, so a put you sell today carries more risk than its premium suggests.