Glossary of Terms
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G
GAMMA
The
sensitivity of an option’s delta to changes in the price of the
underlying futures contract.
GAS
Natural gas is a range of gases which occur naturally and are composed
mainly of methane (CH4) and ethane (C2H6).
GCV
Gross
calorific value
The gearing of a derivative is the price of the underlying divided by the price of the derivative. This can be used for crude assessments of leverage and option pricing. A more sophisticated measure is effective gearing (or lambda), which is the traditional gearing multiplied by the derivative’s delta.
GENERATION
The process of producing electric energy by
transforming other forms of energy. The amount of energy produced is
expressed in watt hours.
GIGAJOULE
One billion joules, approximately equal to
948,000 BTUs.
GIGAWATT
One billion watts
An order given to a futures broker which stays live until filled, or until the close of the market, whichever is sooner.
GTC
See
good till the close
