Big Fat Greek Portfolio v2

What this options Greeks portfolio question tests

This is an easy options theory question that asks you to interpret a portfolio's risk profile by reading its aggregate Greeks. It appears frequently in trading-desk interviews because it separates candidates who can mechanically add numbers from those who understand what delta, gamma, and vega actually mean for an open position.

To answer it, you sum each Greek across all three positions and then reason about what the resulting profile tells you. A portfolio heavily long vega, for instance, benefits from an increase in implied volatility; large positive gamma means you profit from big moves in either direction. The question rewards quick intuition over calculation—recognizing dominant exposures and how they interact.

• Directional vs. volatility exposure
• Convexity and gamma sign in different market moves
• Net Greek interpretation and portfolio balance