US Markets

SPY746.74+0.78%VIX15.81-2.11%S&P 5007,483+0.01%Nasdaq25,833-0.80%Russell2,996-0.55%Gold4,187+1.49%BTC62,172+0.77%Crude68.78+0.13%SPY746.74+0.78%VIX15.81-2.11%S&P 5007,483+0.01%Nasdaq25,833-0.80%Russell2,996-0.55%Gold4,187+1.49%BTC62,172+0.77%Crude68.78+0.13%

Learn · hub

Options Basics & the Greeks

The foundations — calls and puts, the Greeks (delta, gamma, theta, vega), moneyness, breakeven, premium and how option pricing actually works.

Articles

Weekend Assignment Risk: The Monday Surprise for Sellers Automatic Exercise: What Happens If You Forget to Close an ITM Option Breakeven-itis: Why You Keep Cutting Winners Too Soon Calls vs. Puts: Options Basics in Plain English Buying Calls vs Buying Puts: How to Decide Direction Can Options Assignment Cause a Margin Call? Yes — Here's How Cash-Secured Puts, Explained Choosing a Strike for a 0DTE Scalp: How Far Out-of-the-Money?Covered Calls, Explained Cumulative Delta Explained: Reading Buying vs Selling Pressure Using a Debit Spread to Cut Theta on a Directional 0DTE Bet Deep In-the-Money Options: Why They Move Almost Like Shares Delta and Gamma Together: How a Scalp Actually Moves Delta-Based Strike Selection: Why the Right Delta Beats a Round Number Reading Delta Divergence at Session Highs and Lows Delta Hedging Explained: How Dealers Stay Neutral (and Move the Tape)Delta Hedging vs Gamma Hedging: What Dealers Actually Rebalance Delta-Neutral Trading: Betting on Volatility, Not Direction Does Delta Really Equal the Probability of Expiring In-the-Money?Delta vs Gamma: The Difference Every Options Trader Needs Delta vs Probability of Profit: Why They're Not the Same Do I Have to Buy 100 Shares If My Call Expires ITM?Can NoVo Handle Assignment or Exercise for Me?The Double-Bottom Scalp at the Put Wall Early Assignment Explained: When Option Sellers Get Called Early Early Assignment Risk: When a Short Option Gets Exercised Before Expiration

Other hubs

Gamma, GEX & Dealer Positioning 0DTE & Same-Day Options Risk, Sizing & Discipline Volatility & Market Structure

From reading it to trading it

The concepts in these articles — gamma, the walls, expected move — are exactly what NoVo maps live on SPY, QQQ and IWM, with one-click execution and automated exits.

Explore NoVo →

Market Data NoVo Analyst NoVo Trader The Journal About FAQ Getting Started Security Help Terms Risk Refunds Privacy

Market data on this page is delayed and provided for general information only — it is not financial advice or a recommendation to trade. VIX/VXN/RVX are ~15-minute delayed (CBOE); index values use E-mini futures. Options trading involves significant risk of loss. © 2026 NoVo Options Trading.