medium · Quantitative Finance

A trader is managing a delta-neutral portfolio of options. The portfolio has a total Gamma of Gamma_P = 4,000 and a Theta of Theta_P = -2,500 per day.

If the underlying asset moves by Δ S = $1.50 over one day, and the risk-free rate is negligible, what is the estimated daily Profit and Loss (P&L)?

  1. $2,000
  2. -$1,000
  3. $3,500
  4. $2,750

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