If nothing else it should make intuitive sense.. Obviously if you are long gamma,you would like to pay "low rent",and if short gamma you want to charge a boatload.. Low rent = low theta/high gamma High rent= high theta/low gamma
Very handy reward/risk measure. Put it into words that anyone can understand, and see if you can explain every part of your option inventory/portfolio with it -- including spreads. Be aware of the graphs of each, and what they can contribute to your use/knowledge as the market moves (or expiration draws nigh). I run 5 market alarms generally, and this is one. So, .