The sample calculations used in the following glossary/definitions are based on the following key data for a warrant on shares of a fictitious company Turkey Motors.

Strike price TRY45
Price of the underlying TRY43
Time to maturity exactly one year
Exercise ratio 1 to 10
Warrant price TRY 0.50
Implied volatility 30.5%
Delta 0.546
Vega 0.2
Theta (weekly) -1.12%
Gamma 0.3

Warrants that may be exercised at any time prior to expiry; also known as American-style options.