If you’ve ever opened an options chain and felt overwhelmed by unfamiliar metrics like Delta or Theta, you’re not alone. Many traders skip over the “Greeks” because they seem complicated — but that’s a costly mistake.

In options analyst Rick Orford’s latest video, “Options Greeks for Profit: Don’t Trade Blind!”, he breaks down each Greek into plain English and shows you how to use them to make more informed, profitable trades.

Why Options Greeks Matter

Options aren’t just about predicting whether a stock will go up or down. The Greeks give you a deeper understanding of how your option’s price will react to market changes — whether that’s movement in the stock, the passage of time, or shifts in volatility.

Ignoring Greeks means trading blind. Mastering them gives you a serious edge.

Breaking Down the Greeks

• Delta – Measures how much an option’s price will move for every $1 move in the underlying stock. Rick shows how Delta also works as a probability tool, helping you gauge the chance of your option expiring in the money.
• Theta – The “time decay” Greek. It works to the detriment of option buyers, but to the benefit of option sellers. Learn why it’s called the “silent killer” for long positions and how sellers use it to their advantage.
• Gamma – Dictates how fast Delta changes. Rick explains why Gamma risk is particularly dangerous for short positions, especially in volatile markets.
• Vega – Measures sensitivity to volatility changes. See how Vega spikes during market uncertainty and why it matters when trading earnings or news events.
• Rho – Often overlooked, Rho measures sensitivity to interest rate changes. While not always critical for short-term trades, it’s important in certain environments.

Using Barchart’s Tools to See Greeks in Action

Rick doesn’t just explain theory — he shows you exactly where to find these metrics inside Barchart’s PnL tool and how to add Greeks to Barchart’s Options Screener.

With real-world examples, including trades on Microsoft (MSFT), you’ll see how to interpret these values and factor them into your trade setups.

The Bottom Line

If you want better options trading returns, start by learning the Greeks. They’ll help you predict how your option will behave before you enter the trade — giving you better timing, better risk management, and better results.

Watch Rick Orford’s full breakdown here: