Option premium and risk characteristics calculations

In this article you are introduced with derivatives trading in OTC market and in strictly controlled "Euronext“ and "CME group“ market. It is discussed about risk characteristics in future, forward, swaps and options and provided past anomalies in the market (negative oil contracts, "GameStop" gamma short squeeze) explaining instruments and the reasons of their usage. This article includes arbitrage, risk-neutral measure, Wiener process, explore discrete binomial model and continuous Black - Scholes model. In the practical part of this article it is discussed about "Micron Technology, Inc" (MU) option to buy transaction premium and their risk characteristics which will be evaluated using options greek letters (Delta, Gamma, Theta, Vega, Rho) and Black - Scholes model. Provide an explanation to the difference and similarity between theoretical and actual contract parameters in various execution prices