Heatmap is an interesting graph provided in R language, it visually demonstrates data features of a matrix. I plotted the attached heatmap for some usual option strategies greeks matrix, pink means large numbers, cyan means small numbers and white means the middle ones. The source data is from yahoo finance of SP500 0725 options and 0920 optioins, captured on 25th-Jun. The vertical spreads are all combined with 0725 options, only Calendar one is combined with 195Call0725 and 195Call0920. All the strategies are "long" position. Just a roughly view of these strategies features. We could see from the graph that: a) Risk Reversal, Bull Call and Bull Put have large delta. Because these 3 are "directional" strategies, others are all "non-directional". b) Straddle and Strangle both have large gamma and vega, meanwhile have small theta. They long 2 options. c) Bull Call has positive premium while Bull Put has negative premium, although they are both "bull directional" spread. This is is while they are also called "debit spread" and "credit spread". d) Calendar one is interesting, it has large vega compared to others except for Straddle and Strangle. In view of "expire date pay-off", Calendar is similar to "short straddle". However in view of vega it is similar to "long straddle", means it benefit from implied vol raising. Source data of the matrix: Strategy Premium delta gamma vega theta rho Risk Reversal -0.48 0.72 0.03 0.00 0.01 0.12 Bull Call 2.55 0.31 -0.02 -0.01 -0.01 0.05 Bull Put -1.3 0.27 -0.02 -0.01 -0.01 0.04 Straddle 4.13 0.08 0.15 0.45 -0.07 0.01 Strangle 2.68 0.02 0.14 0.42 -0.07 0.00 Calendar 2.02 -0.01 -0.04 0.15 -0.05 0.15 ButterFly 0.23 -0.04 -0.01 -0.03 0.01 -0.01 Iron ButterFly -1.45 -0.06 -0.01 -0.03 0.00 -0.01 Iron Condor -1.08 -0.08 -0.03 -0.08 0.01 -0.01 Source price from yahoo finance: 0725 options and price 191Call 5.79 191Put 1.16 193Call 3.65 193Put 1.58 195Call 2.26 195Put 1.87 197Call 1.1 197Put 2.88 199Call 0.44 199Put 4.54 0920 options and price 195Call 4.28