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Basic Question 29 of 32
Suppose your position is short a call option and long a share of underlying stock; what can you say about the gamma of your portfolio?
B. You are long gamma.
C. You are short gamma.
A. You are gamma-neutral.
B. You are long gamma.
C. You are short gamma.
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Learning Outcome Statements
interpret each of the option Greeks;
describe how a delta hedge is executed;
describe the role of gamma risk in options trading;
define implied volatility and explain how it is used in options trading.
CFA® 2025 Level II Curriculum, Volume 5, Module 32.