Any idea? I've heard you should worry about it only when you are running an institution size position.
Gamma is the opposite side of the coin to Theta. If you are long Gamma you must be short Theta, and vice-versa. This is very basic stuff, and I humbly suggest you do some reading and study before trading options.
Thatâs not really particularly accurate. You can be long gamma and short theta or vice versa all through ratio spreads and time spreads. It gets even more complex with inverted volatility curves and short dated options and so on. In general I do agree with Profitaker you sound like you need to learn the basics first. You can run the âgreeksâ on small positions too, and you can learn how each one of them corresponds to the others in tiny positions.