---
title: "Morgan Stanley:  Gamma vs Theta"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293132470.md"
description: "Morgan Stanley's Andrew Sheets draws parallels between ancient Greek themes of pride and self-control in 'The Odyssey' and modern trading behaviors, using the mythological dangers of Scylla and Charybdis to illustrate risks faced by investors and central bankers today."
datetime: "2026-07-19T20:20:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293132470.md)
  - [en](https://longbridge.com/en/news/293132470.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293132470.md)
---

# Morgan Stanley:  Gamma vs Theta

_By Andrew Sheets,Global Head of Fixed Income Research at Morgan Stanley_

## Guidance from the Past

Like many of you, my goal this week is to see_The Odyssey_. The enduring appeal of the story, more than 2,700 years after it was composed, is a reminder that some themes are universal. Pride, resourcefulness, determination, and self-control (or the lack thereof), mattered to both a Bronze Age audience and anyone trading today. If you had a nickel for every time Scylla and Charybdis were used to describe two dangers confronting investors or central bankers…you would have a lot of nickels.

### Related Stocks

- [MS.US](https://longbridge.com/en/quote/MS.US.md)
- [MS-O.US](https://longbridge.com/en/quote/MS-O.US.md)
- [MS-Q.US](https://longbridge.com/en/quote/MS-Q.US.md)
- [MS-E.US](https://longbridge.com/en/quote/MS-E.US.md)
- [MS-I.US](https://longbridge.com/en/quote/MS-I.US.md)
- [MS-L.US](https://longbridge.com/en/quote/MS-L.US.md)
- [MS-P.US](https://longbridge.com/en/quote/MS-P.US.md)
- [MS-A.US](https://longbridge.com/en/quote/MS-A.US.md)
- [MS-F.US](https://longbridge.com/en/quote/MS-F.US.md)
- [MS-K.US](https://longbridge.com/en/quote/MS-K.US.md)

## Related News & Research

- [Morgan Stanley Says AI Spending Boom Is Only 10%-15% Complete](https://longbridge.com/en/news/292796708.md)
- [Morgan Stanley Q2 earnings beat fueled by stock trading, investment banking fees](https://longbridge.com/en/news/292762770.md)
- [Andra AP fonden Makes New $5.36 Million Investment in Jacobs Solutions Inc. $J](https://longbridge.com/en/news/293572254.md)
- [First Trust Advisors LP Acquires 1,305 Shares of Eli Lilly and Company $LLY](https://longbridge.com/en/news/293719299.md)
- [Anthropic Weighs Tighter Controls on Employee Stock Trading As It Preps for Wall Street](https://longbridge.com/en/news/293657353.md)