Option Greeks measure how Progressive Corporation (PGR) option prices respond to changes in the stock price (delta and gamma), the passage of time (theta), implied volatility (vega), and interest rates (rho). These charts plot each Greek by strike, so you can see where an expiration's price risk, time decay, and volatility exposure are concentrated. PGR implied volatility is near the bottom of its one-year range, which keeps delta and gamma in a narrower range of strikes than usual.
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PGR Option Greeks FAQ
What are option Greeks?
Option Greeks measure how an option's price responds to changes in the stock price (delta and gamma), time (theta), implied volatility (vega), and interest rates (rho).
How do I read the PGR Greeks charts?
Gamma, theta, and vega are largest for strikes near the Progressive stock price and shrink for strikes far above or below it. Theta grows as expiration gets closer, while vega is larger for expirations further out. Call delta runs from 0 to 1 and put delta from -1 to 0, near 0.50 and -0.50 at the money, and roughly estimates the chance that an option finishes in the money.
How does implied volatility affect PGR's Greeks?
Progressive IV rank is 15, so implied volatility is near the bottom of its one-year range. Higher implied volatility raises option premiums and daily time decay (theta), and spreads delta and gamma across a wider range of strikes. Over the past year, 30-day implied volatility ranged from 22.4% to 38.6%. See the PGR implied volatility history for a longer view.
How much gamma and delta do PGR options carry in total?
Across all open Progressive options on Nov 4, 2026, net gamma exposure was $12.46M and net delta exposure was $218.08M per 1% move in the stock. The PGR gamma exposure chart shows where that gamma sits by strike.
What is Progressive Corporation?
Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 27 million personal auto policies in force and is one of the largest auto insurers in the United States.