GAMMA - I try to clear this up a little better. Right now nflx weekly 57.5 strike has a price of 0.79 and a delta of 0.415. The gamma is 0.144. On the first dollar we see this 0.79 + 0.415(delta) delta = 1.205.
The second dollar you take the delta + the gamma to find the new delta and in this case 0.415 (delta) + 0.144 (gamma) = 0.559. So the second dollar is 1.205 (option new value + 0.559 new delta = 1.764 new option value. Here I made my double plus and most of us bail which is not always a bad thing.
The third dollar move now makes it even more interesting. One thing to note greeks are always changing but for our example we will keep it easy. We first take or 0.559 delta + gamma of 0.144 = 0.703 new delta. So this third dollar is almost paying 88% just in that dollar.
The fourth dollar move is my gem here. The delta of .703 + gamma 0.144 = 0.847. This dollar move will bring in 107% just by itself. After a $4 move I making a 1:1.7+ per dollar, but here how the math would look:
0.79 price + 0.415 (1st $) + 0.559 (2nd $) + 0.703 (3th $) + 0.847 (4th $) = $3.314 or a 319% move.
If we got a 5th $1 move the delta would be: 0.847 + 0.144 = 0.991. That one dollar move in the fifth position would bring 125% return on top of our 319% from the 4 previous moves.
Gamma is our little compounding tool and make holding longer term more attractive. I hope this helps if not shoot me another pm.