Let us say underlying is at 50$, and the 50 call is at 0.50.
delta=0.5, gamma =0.5, theta = .02, vega = .10.
I apologize if these numbers are not realistic, I am very poor at Greeks.
My question is: If tomorrow underlying moves 1$ to 51$. Is it possible to do a rough estimate of the option price based on the Greeks? The option will have 1$ intrinsic value.
And extrinsic value will be .50 - .02(theta decay) = .48? So it will cost 1.48?
Another way to think is: Price = current price (.50) + delta effect (0.50) - theta effect (.02) = 1.48 Will the other Greeks come into play too? How?