vega
C2CEFR level
92/100Rarity: very rare
TechnicalRegister
The sensitivity of an option's price to a change in the volatility of its underlying.
Long-dated options carry the most vega, so a spike in implied volatility lifted the desk's mark overnight.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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