Vega: anumaan badle to daam kitna badle.
Doosre naam: vega, option vega, vega meaning, volatility sensitivity option, what happens to option price when iv falls.
Ise kaise padhein
Naye readers ko sabse ajeeb yahi lagta hai: spot wahin hai, phir bhi option sasta ya mehnga ho gaya. Iski ek badi wajah vega hoti hai — aage kitna hilne ki umeed hai, woh badal gayi.
Isliye option ka daam sirf spot ka peechha nahi karta. Woh ek se zyada cheezon ka jod hai, aur unme se ek umeed hai.
Yahi wajah hai ki naye readers ko kabhi-kabhi lagta hai ki bazaar unke saath nainsaafi kar raha hai. Spot unki soch ke hisaab se hila, phir bhi option sasta ho gaya. Usme koi gadbad nahi hui — daam ka ek hissa umeed ka tha, aur woh hissa waapas le liya gaya.
Zyadatar platforms vega ko ek percentage point ke hisaab se quote karte hain: agar aage ke hilne ka anumaan ek point badle toh premium mein kitna farak aayega. Long calls aur long puts par yeh aam taur par positive hota hai, kyunki anishchitata kharidne wale ke liye kuch keemat rakhti hai.
Units hi yahan sabse aam galti ki jagah hain. 20 se 18 par girna 2 percentage points hai, aur wahi girawat relative roop mein 10% bhi kehlaati hai. Ek percentage point ke hisaab se quote kiya gaya vega usme 2 ka istemaal karta hai, 10 ka nahi. 2 alag paimane ek hi girawat par bilkul alag jawab dete hain.
Vega wahan sabse bada hota hai jahan anishchitata contract ki value ke liye sabse zyada maayne rakhti hai. Expiry paas aane par woh chhota hota jaata hai, kyunki volatility ko kaam dikhane ke liye samay hi kam bacha hai.
Isi wajah se lambi expiry wale option par anumaan ka chhota sa badlav bhi daam mein saaf dikhta hai, jabki bilkul paas wali expiry par wahi badlav lagbhag kuch nahi karta. Ek hi khabar 2 alag expiries par 2 alag asar chhodti hai.
Yeh kya nahi batata
Kisi bade announcement se pehle anumaan badh jaata hai aur options mehnge lagte hain. Announcement ke baad anishchitata khatam hoti hai aur wahi anumaan tez gir sakta hai — isse option ka daam gir sakta hai, chahe spot us taraf hi gaya ho jis taraf socha tha.
Yeh koi galti nahi hai. Yeh isi baat ka natija hai ki daam mein umeed bhi shamil thi.
Vega ek local sensitivity hai jo pricing model se aati hai. Woh na koi forecast hai, na market ka koi naapa hua gun. Woh yeh maan kar chalti hai ki baaki har input waisa hi rahega, aur asli trading ka koi minute aisa hone ka vaada nahi karta. Vega yeh bhi nahi batata ki anumaan khud kis taraf jayega — aur premium un wajahon se bhi hil sakta hai jinhe in greeks mein se koi nahi ginta.
Experiment mein dekho
Jude hue concepts
Greeks: 4 sawaal, 4 alag jawab.
Delta, gamma, theta aur vega — 4 numbers jo batate hain ki premium kis cheez par kitna hilta hai.
Lesson kholo