Oct 19 2020 16 mins 5
Gamma Risk is something that we as traders have to contend with every time we put on an undefined-risk position. In fact, just last week, [we showed that this risk is effectively guaranteed to rise,](https://www.tastytrade.com/tt/shows/the-skinny-on-options-abstract-applications/episodes/a-convex-kind-of-risk-10-12-2020?_sp=ba65a89a-d6a9-4ad4-9de3-db69a440da0a.1603118319787 ) as we move closer and closer to expiration. If we dig a bit deeper, though, we see that this is not the only layer to Gamma Risk. The [moneyness of the options,](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/from-theory-to-practice-07-07-2016 ) as well as the Delta itself, can exacerbate this risk even more.
