What are the FTGC aggregate Greek exposures?

As of Jun 30, 2026, First Trust Global Tactical Commodity Strategy Fund (FTGC) snapshot Greeks are net delta -$37.8K, net gamma $1.9K, net vega -$185. These aggregate the dealer book across all listed strikes and expirations under the standard customer-versus-dealer sign convention.

What does the FTGC net dealer delta tell us?

Net dealer delta of -$37.8K represents the directional exposure dealers carry from their option inventory. Dealers continuously hedge this exposure with stock, futures, or correlated instruments, so the size of net delta is also the size of hedge flow that will execute as spot moves.

How do FTGC Greeks inform hedging?

Delta tracks first-order directional exposure; gamma tracks how quickly delta changes; vega tracks IV sensitivity. Aggregated dealer Greeks let traders read the dealer-positioning regime: long-gamma regimes mean-revert moves; short-gamma regimes amplify them. Vega exposure indicates how dealer P&L responds to vol shocks and hence the direction of vol-shock hedging flows.

First Trust Global Tactical Commodity Strategy Fund (FTGC) Options Greeks

Options Greeks measure sensitivity to various factors: Delta (price), Gamma (delta change), Theta (time decay), and Vega (volatility). They are essential for risk management and position sizing.

First Trust Global Tactical Commodity Strategy Fund (FTGC) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $2.64B, listed on NASDAQ, carrying a beta of 0.95 to the broader market. The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve attractive risk adjusted returns by investing in commodity futures contracts, exchange-traded commodity linked instruments, and commodity linked total return swaps (collectively, "Commodities Instruments") through a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands (the "Subsidiary"). public since 2013-10-24.

Snapshot as of Jun 30, 2026.

Spot Price: $27.05
Net Gamma: $1.9K
Net Delta: -$37.8K
Net Vega: -$185
ATM IV: 63.1%
Gamma Concentration: 0.32

As of Jun 30, 2026, First Trust Global Tactical Commodity Strategy Fund (FTGC) aggregate Greeks are net delta -$37.8K, net gamma $1.9K, net vega -$185, ATM IV 63.1%. Gamma concentration is 0.32: gamma is more dispersed, reducing any single-strike pinning force. Delta measures directional exposure, gamma measures the rate of delta change, and vega measures sensitivity to implied volatility. Net aggregate Greeks summarize the total dealer book across all strikes and expirations.

How FTGC options greeks Data Feeds Strategy Selection

Strategy selection on First Trust Global Tactical Commodity Strategy Fund options does not derive from any single metric in isolation. The options greeks view above sits inside a broader read: ATM IV currently sits at 63.1% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the options greeks data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.

How to read the FTGC Greeks profile

The chart above shows per-strike dealer-Greek exposures aggregated across calls and puts for the front expiration. Current net dealer gamma is $1.9K - a positive (mean-reverting) hedging regime. Net dealer delta of -$37.8K indicates short-delta dealer book - dealers are net short the underlying. Net vega of -$185 measures dealer P&L sensitivity to IV shifts - a 1-point IV move shifts book value by approximately $185.

FTGC Greeks regime and dealer hedging

Aggregate dealer Greeks compress 4 sensitivities (delta, gamma, theta, vega) into a single read on hedging behavior. In the current positive-gamma regime, dealer hedging is structurally mean-reverting: as FTGC moves higher, dealers sell into rallies; as it moves lower, dealers buy into dips. This is the mechanical basis for the "pin to max pain" pattern. Gamma decays as expiration approaches; near-dated Greek exposures dominate the hedging flow.

Using FTGC Greeks data for strategy selection

The Greeks profile is the input to most quantitative options strategies. Premium-selling structures (covered calls, iron condors, cash-secured puts) are negative-gamma, positive-theta, negative-vega - they pay you for being patient about realized volatility but get hit when realized exceeds implied. Premium-buying structures (long calls, long puts, long straddles, ratio backspreads) are positive-gamma, negative-theta, positive-vega - they pay you when realized exceeds implied but bleed time decay otherwise. Combine the regime read with the Greeks decomposition on this page to size structures correctly.

Learn how options Greeks is reported and how to read the data →

Frequently asked FTGC options greeks questions

What are the FTGC aggregate Greek exposures?: As of Jun 30, 2026, First Trust Global Tactical Commodity Strategy Fund (FTGC) snapshot Greeks are net delta -$37.8K, net gamma $1.9K, net vega -$185. These aggregate the dealer book across all listed strikes and expirations under the standard customer-versus-dealer sign convention.
What does the FTGC net dealer delta tell us?: Net dealer delta of -$37.8K represents the directional exposure dealers carry from their option inventory. Dealers continuously hedge this exposure with stock, futures, or correlated instruments, so the size of net delta is also the size of hedge flow that will execute as spot moves.
How do FTGC Greeks inform hedging?: Delta tracks first-order directional exposure; gamma tracks how quickly delta changes; vega tracks IV sensitivity. Aggregated dealer Greeks let traders read the dealer-positioning regime: long-gamma regimes mean-revert moves; short-gamma regimes amplify them. Vega exposure indicates how dealer P&L responds to vol shocks and hence the direction of vol-shock hedging flows.