Option VegaThe option Vega is an option Greek that can be used to determine how much an option will change for every 1 percentage point change in volatility.
If you have an option with a Vega of $.15 then for every 1 point change in the options volatility the option will go up $.15 if the volatility goes up 1 point and it will go down $.15 if volatility goes down $1. Unlike other Greeks the option Vega will always be a positive number because it affects calls and puts the same way. Volatility can make a big difference in the price of an option, so it is important to look at the Vega. This is especially true if volatility is high on the options. 
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