What does "third-order" mean?

Of or pertaining to third-order Greeks, used by portfolio managers and derivative traders to measure risk and the sensitivity of an option in regard to changes in implied volatility, time premium decay, and the price of its underlying security.

Third-order

adj

adj ·Rare ·Advanced level

Definitions

Adjective

1
Of or pertaining to third-order Greeks, used by portfolio managers and derivative traders to measure risk and the sensitivity of an option in regard to changes in implied volatility, time premium decay, and the price of its underlying security. not-comparable

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Data sourced from Wiktionary, WordNet, CMU, and other open linguistic databases. Updated March 2026.