If we think of options, then the delta is a measure of movement relatuve to the underlying asset movement.

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We assess that the underlying factors fueling the spread of the movement outweigh its vulnerabilities and are likely to do so for the duration of the timeframe of this Estimate.

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It looks like the trader is positioning for significant, albeit limited, downside movement in the price of the underlying by employing a ratio put spread.

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The trader profits on the short stock if shares drop, while the long calls hedge potential bullish movement in the price of the underlying through expiration in March.

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The sale of twice as many lower-strike put options greatly reduces the cost of the directional play and suggests the investor expects limited bearish movement in the price of the underlying rather than a nosedive in the next couple of months.

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They also transplanted underlying muscles and nerves that will allow Wiens to have sensation and movement in his face.

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But the underlying thesis of the Bush administration's support for the marriage education movement is somewhat different.

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Vega measures the amount of movement in the option for a 1% move in the volatility of the underlying asset.

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This is the same underlying idea that led, in the 1920s, to the advent of the Community Chest movement which itself evolved into regional United Appeal and then United Way fundraising drives, often fueled by employer-enabled paycheck deductions.

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