Financial derivatives like options are important tools for managing risk in the financial market. This study focused on the effectiveness of option Greeks (Delta, Gamma, Theta, Vega, and Rho) in managing risks associated with option contracts. The researchers used the Black Scholes option pricing model to analyze the monthly option pricing and Greeks of specific companies in January 2017. The study found that these Greeks play a significant role in minimizing risks and optimizing returns in option trading.