This episode introduces readers to option gamma, one of the "Greeks" used in options trading. It explains how gamma affects a delta-hedged position and the necessity of gamma hedging to maintain neutrality as the underlying asset's price changes. The text also discusses gamma trading as a strategy balancing the profits from gamma hedging against the cost of option theta, which represents time decay. The book, part of the Volcube Advanced Options Trading Guides, provides practical techniques for managing gamma risk and profitability
