Take this 10-question quiz and see what you REALLY know about the Greeks.

Get 1 - 3 out of 10...  Needs improvement
Get 4 - 6 out of 10...  Doing OK
Get 7 - 9 out of 10...  Not too shabby
Get 10 out of 10...     You're an options pro

At the market close on Monday, January 30th, once all results are in, we'll email you an answer key so you can grade yourself. 

Good luck!

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* 1. _______ measures an option position's sensitivity to time passing.

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* 2. The XYZ March 50 - 55 bull call spread has a(n) _______ delta than the XYZ March 50 call.

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* 3. If a given option has a positive theta, it will have a _______ gamma.

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* 4. If implied volatility increases, the delta of an out-of-the-money option _______.

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* 5. As time passes, the theta of an out-of-the-money option _______.

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* 6. Scenario: A trader owns one 50-strike call, which has a 44 delta. The underlying stock splits 2 for 1. Now the trader owns two 25-strike calls.
Question: What is the delta of each of his calls after the stock split?

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* 7. Scenario: A trader owns one 50-strike call, which has a 0.04 theta. The underlying stock splits 2 for 1. Now the trader owns two 25-strike calls.
Question: What is the theta of each of his calls after the stock split?

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* 8. As the X-dividend date approaches, some in-the-money call deltas tend to _______.

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* 9. Calls with more time until expiration have a _______ rho than a corresponding shorter-term call of the same strike.

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* 10. Imagine a European-style, deep-in-the-money put has as delta of 0.993. All else held constant, the delta would be _______ if it was American-style exercise.

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* 11. Please leave name and a valid email address to get your answer key emailed to you Monday afternoon.

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