Trying to predict which horse will win the derby this year without knowing the history of its rider and with no background information about the horse is similar to trading options without knowing its Greeks. Option traders often refer to Delta, Gamma, Vega, and Theta of their option positions to assess their risk/reward. These terms referred to as ‘Greeks’, provide better understanding of the sensitivity of an option’s price to quantifiable factors. Because option prices don’t necessarily move in parallel with the price of the underlying asset, as an option trader it is important to grasp at least some working knowledge of these factors and its effect on option’s price. For example, short-term option buyers have to fight against time value (theta), but you go out 3 months, and theta for the same strike price will have a minimum impact on the option price. Not knowing this and entering into a short-term option contract, even with stock moving towards your intended direction, an option can still lose value. In short, to be able to make successful option trades, Greeks should not be ignored. -Yasir
Probably more important than knowing the greeks is understanding how they will react when price/volatility changes. That plus the fact that what you are seeing in your software is a guesstimate of the greeks you actually have.