option p l gentleman erms system know excellent capability decomposing option p l following components new deals curve shift gamma vega theta rho drift 2 nd order adjustments dont understand gamma component reported dollars unit measure suggests incremental changes contract position associated specific prices prices effective buy sell prices associated dynamic delta position stated differently standard taylor expansion incorporated price variable way convert unit measure gamma standard contract count total gamma dolalrs something dont understand date inquiries risk management accounting group revealed gamma component p l well understood concerns bridgeline 2 books option exposures nymex gas daily books dynamically hedged positions yesterdays large price move anticipitory hedging advance large price move secured sufficient coverage neutralize expected changes delta however p l underlying position offset gamma p l consequently ask im hoping brief look gamma dollars calculated may reveal something better guide hedging decisions help appreciated