Hull, Options, Futures & Other Derivatives, Chapter 19: The Greek Letters is a 41 minute instructional video analyzing the following concepts:

* Describe and assess the risks associated with naked and covered option positions.

* Explain how naked and covered option positions generate a stop‐loss trading strategy.

* Describe delta hedging for an option, forward, and futures contracts.

* Compute delta of an option.

* Describe the dynamic aspects of delta hedging and distinguish between dynamic hedging and hedge-and-forget strategy.

* Define the delta of a portfolio.

* Define and describe theta, gamma, vega, and rho for option positions.

* Explain how to implement and maintain a gamma‐neutral position.

* Describe the relationship between delta, theta, and gamma.

* Describe how hedging activities take place in practice, and discuss how scenario analysis can be used to formulate expected gains and losses with option positions.

* Describe how portfolio insurance can be created through option instruments and stock index futures.