# Gamma

*Derivatives & Options — Finicade finance glossary*

How fast delta itself changes as the underlying moves — the Greek of a Greek. High gamma means your hedge goes stale quickly, forcing more frequent rebalancing; it's largest for at-the-money options near expiry.

**Related terms:** [Delta](https://finicade.com/glossary/delta), [The Greeks](https://finicade.com/glossary/the-greeks), [Delta Hedging](https://finicade.com/glossary/delta-hedging)

**Taught in:** Hull Street — The Greeks, in Full

Source: https://finicade.com/glossary/gamma