Option Greeks are sensitive to a specific market variable, so they are even called ‘option sensitivities’. Sensitivity signifies some form of risk. The intensity of sensitiveness for open option position is magnifying because they apply their leverage on option position at the same time.
Understanding and calculating options sensitivity with respect to price shifts, IV changes, time decay and interest rates is very helpful. It can make a vast difference between bust and boom.
For new traders application of options Greeks can be fairly complicated. If you are serious about investing in options then it is wise to learn the application of option Greeks in detail.