• You are currently managing an options portfolio with delta, cash gamma, vega, and theta of -19.8, $-243,000, $-26,000 and $2,425 respectively, quantify and explain what do these numbers represent?

• If you wish to decrease your portfolio in order to be delta, gamma, theta and vega neutral, what kind of options trading activities should you undertake? Nominate at least 3 different ways a market maker can do. (think about the different ways a market maker can engage in trading).

• Which Greek should be the easiest to make neutral?
• Why do you think this greek should always be close to neutral?
• Explain why making the position greek risk neutral does not mean that all risk is 0?