The one-bet book, in Greeks

the Greeks book audit

The record regrouped by aggregate exposure: the book's total delta (one directional bet), total vega (one volatility bet), and total theta (one decay position) read across every position - because a book that looks diversified across underlyings and structures can be one large directional or volatility bet in the aggregate Greeks. The one-bet audit, in the Greek dimension: what the book is really betting on, hidden in exposures that individual positions disguise.