Select an option above to see an explanation here.

A) Vega is not the interest rate in the model, it is the measure of an option's price sensitivity to changes in the volatility of the underlying asset.
B) Vega does not represent the time to expiration of the option, it is the measure of an option's price sensitivity to changes in the volatility of the underlying asset.
C) Vega is not the strike price of the option, it is the measure of an option's price sensitivity to changes in the volatility of the underlying asset.
D) Vega measures option price sensitivity to volatility changes in the Black-Scholes Model.