Options Greeks for Nifty: Delta & Gamma

Greeks are not academic -- they are the risk dials of every Nifty position. Delta = how much the option moves per 1 point of underlying. ATM Delta ~0.5, deep ITM ~1.0. Gamma = rate of change of Delta; highest at ATM, explodes near expiry (gamma risk). Theta = daily time decay; writers collect it, buyers bleed it. Vega = sensitivity to IV; long vega wins when volatility rises. For Nifty weekly expiry, Gamma and Theta dominate -- a 100-point move can flip an ATM call from profit to loss because Gamma accelerates Delta. AI models use Greeks as features: high Gamma + negative Theta near expiry = avoid naked buys. Understand the dials before the model; the model only quantifies what Greeks describe.