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In options trading, "delta" and "theta" are important concepts that are used to understand the price and time sensitivity of options.

Delta is a measure of an option's sensitivity to changes in the price of the underlying asset. It represents the amount that the price of an option will move in response to a $1 change in the price of the underlying asset. Delta values range from 0 to 1 for call options and from -1 to 0 for put options. For example, if a call option has a delta of 0.5, it means that the option's price will increase by $0.50 for every $1 increase in the price of the underlying asset.

Theta, on the other hand, measures an option's sensitivity to the passage of time. It represents the amount that an option's price will decrease as time passes, assuming all other factors remain constant. Theta is usually expressed as a negative number, indicating that the option loses value over time. For example, if an option has a theta of -0.05, it means that the option will lose $0.05 of its value every day, all other factors being equal.