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Gamma Exposure

As
approaches, the
of
becomes more and more volatile, especially for options near the
This is because the option's
can go from near 0 to near 100 very quickly if it's
were to change. As a result, the delta of the
can become unstable causing less reliable
metrics and increased management difficulty. One way to tame gamma exposure is to
before it get's too close to expiration.

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