This is not the name of an extra-geeky college fraternity. It?s a list of the greeks, a set of variables that describe how option prices change when certain things happen.

In a couple of previous articles, I mentioned the role of Market Makers in the options market. These people make the market possible by standing ready to buy or sell options at any time.

Today we?ll talk about what the option chain can tell us about whether trading a particular option might be too costly, in the sense that the ?markup? on it is too high.

In options, there is an important concept called ?moneyness.? It?s central to our understanding of options.