Why calculate portfolio Greeks?

Portfolio Greeks reveal your aggregate risk exposure across all positions. Individual positions might seem balanced, but portfolio analysis can uncover hidden directional bias, excessive gamma exposure, or dangerous theta decay. For example, 5 'neutral' iron condors might actually have +500 net delta (bullish bias). Portfolio Greeks help you: adjust hedges, manage risk limits, understand P&L drivers, and identify when you're overexposed.

What is a good portfolio delta?

Target portfolio delta depends on your strategy and market outlook. Delta-neutral traders aim for 0-100 delta regardless of account size (< 1% directional exposure). Directional traders might run +500 to +1000 delta for bullish portfolios. Rule of thumb: portfolio delta should not exceed 10% of your account value in delta exposure. A $50k account should limit delta to ±500 ($50k / 100 = $500 of delta exposure). Adjust daily as positions age.

Portfolio Greeks Calculator

Calculate portfolio-level Greeks across all your positions. See total delta, gamma, theta, and vega exposure to understand aggregate risk and make better hedging decisions.

Multi-Position

Risk Aggregation

Professional Tool

Last Updated: November 21, 2025

9 min read

Reviewed by: ApexVol Trading Team

Fact-checked & Up-to-date

What is Portfolio Greeks Calculator?

Portfolio Greeks Calculator is a tool that aggregates the Greeks (delta, gamma, theta, vega, rho) across multiple option positions to show your portfolio's total risk exposure and sensitivities.

Portfolio Greek analysis is crucial for managing complex multi-leg strategies and understanding how your entire book will react to price moves, time decay, and volatility changes.

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Options Greeks Guide

Master individual Greeks before portfolio analysis.

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Hedge Ratio Calculator

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Iron Condor Strategy

Monitor portfolio Greeks when running multiple condors.

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Understanding related strategies helps you choose the best approach for your market outlook and risk tolerance. Each strategy has unique characteristics that make it suitable for different market conditions.