Caveat Emptor : Let the Option Trader Beware Last Minute Option trading gives tremendous opportunities but be extremely cautious when you are dealing with such contracts. Especially if the contract has a high probability of ending In The Money. The options that expiry In The Money usually attracts a very high Securities Transaction Tax.
DEFINITION OF VEGA The change of options value for a percentage point change in implied volatility of the underlying.
The rate of change of the value of the option with respect to the price with all else remaining the same.
Definition of Option Delta Its basic understanding is at what rate the option price is going to move with a change in the price of the underlying.