This publication is part of a series of posts on the Greeks. These posts are a short summary of a part of the content of my book How to Calulate Options Prices and Their Greeks. The Delta is the first derivative of the value of an option: or the change of the value of the option as compared to the change of the Future or underlying value. For a call option one can expect the value of that option to increase when the underlying will move up; at the same time a decrease of the

On May 7th the UK elections will be held, the latest poll results (23/24 April) show a neck – and – neck race between Cameron (Conservatives) and Miliband (Labour), 33% versus 35%. History has shown that the Pound versus the Dollar displays quite some volatility before and after elections. Source: Telegraph The chart above shows in light blue the change in GBP/USD before the election and in dark blue the change in GBP/USD after the election for the past 5 elections from 1992