gamma
The third letter of the Greek alphabet. / A high-energy photon emitted by radioactive decay. / A measure of the rate of change in the delta of an option.
[C/U] Both
pl: gammas
In scientific circles, this term evokes the highest tier of energy and penetration. It is associated with the invisible, powerful forces of nuclear physics and cosmic rays, carrying a connotation of intensity and danger that differs from the softer associations of alpha or beta particles.
In the world of finance, it represents a second-order sensitivity. It is used by professional quantitative analysts to describe how a hedge must be adjusted as the underlying price moves, making it a term of precision and risk management rather than general investment.
Countable when referring to the Greek letter as a character in a text. Uncountable when referring to the physical phenomenon of radiation.