Risk & Positioning
Portfolio Greeks Calculator
Aggregate manually entered per-unit Greeks into signed exposure by underlying.
Check units before adding positions
Two standard long calls with per-share delta 0.60 contribute +120 share delta. One standard short put with delta −0.30 contributes +30, because the short quantity reverses the put’s sign. With 50 short shares, the net is +100 share delta for that same underlying. The stock hedge contributes no option gamma or vega.
Per-share vega of $0.08 per one IV point becomes $16 for two long 100-multiplier contracts. A three-point IV rise gives about $48 from that sensitivity alone. Confirm whether the calculator inputs expect per-share or already-scaled Greeks to avoid multiplying twice.
Summing share deltas across unrelated tickers does not produce a meaningful single-stock hedge. Use separate underlying buckets or a stated dollar/factor conversion, and stress the relationship. Portfolio vega also hides which strike or maturity is exposed.
These are snapshots. Revalue price, IV and time jointly, then assess liquidity and funding. A near-zero delta can coexist with large negative gamma, negative vega or assignment-created stock risk.
Continue learning
Reviewed . Examples are illustrative; verify exact contract and broker terms.
References: OIC: volatility and the Greeks.
About this calculator
How to use this tool
Enter the Greeks for one long option unit, then use Buy or Sell to set the position sign. Quantity is contracts and the multiplier converts per-unit Greeks to position exposure. Rows can have different expirations because this tool sums supplied sensitivities, not a multi-expiration payoff.
Delta and Gamma are grouped by underlying; adding share-equivalent deltas from unrelated securities would be misleading. Cash Theta, Vega and Rho are also shown by group. All rows must use the same cash currency and conventions.
Theta must be per calendar day, Vega per one IV percentage point and Rho per one interest-rate percentage point. Refresh inputs manually as positions and markets change.
Worked example
Two long calls with Delta 0.50 and multiplier 100 contribute +100 share equivalents. One short call with Delta 0.30 contributes −30; the combined Delta for that stock is +70.
Related tools
Model references and conventions
365 calendar days per year. Continuous rates for theoretical pricing. All examples are illustrative.
