In financial mathematics, the Greeks denote several sensitivity indicators of the option price. The partial derivative of the option price is formed according to the option parameters. The resulting indicators are usually abbreviated by Greek letters (delta, theta, gamma, etc.) and thus summarised as Greeks. Option traders use the Greeks to analyse the option risk and to manage their option portfolios efficiently. Depending on the first or second partial derivative, a distinction is made between “first-order” and “second-order” Greeks. The best-known Greeks are: delta, vega, theta, rho, lambda, epsilon, gamma and vanna. The latter two are second-order Greeks.