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Gamma is the mathematical measure of curvature, representing the second-order sensitivity of an option price.

Negative convexity accelerates losses and slows gains, creating a dangerous risk profile for short option sellers.

Positive convexity enhances gains and buffers losses by automatically adjusting directional exposure in your favor.

Weekly options offer higher Gamma and lower stability, while monthlies provide a more gradual Delta transition.

Short Gamma near expiry carries extreme risk because Delta can shift faster than a trader can realistically hedge.

Time decay sharpens the Delta curve, causing Gamma to spike as the window for price movement closes.

Limit orders provide the necessary liquidity for Delta hedging, and their absence increases the risk of Gamma-driven slippage.

Market maker hedging can amplify price moves, especially when they are short Gamma and forced to follow the trend.

Gamma scalping involves trading the underlying asset to lock in gains from Delta shifts while maintaining a neutral position.