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Dynamic Greeks
Dynamic Greeks refers to the fact that an option's Greek values change as the underlying price, time to expiration, implied volatility and other pricing inputs change.
Why it matters to you
If your call has: Delta = 0.40 today, that does not mean it will remain 0.40. The underlying may move. Time passes. IV changes. The option moves closer to or further from the money. Its Greeks change with it. The Greeks are a snapshot, not permanent properties of the contract.