The option’s gamma is a measure of the rate of change of its delta.
The gamma of an option reflects the change in the delta in response to a one point ($1.00) movement of the underlying stock price.
Options that are deep in the money and or way out of the money have low gamma and values close to 0. Which means that deep ITM/OTM options have very low rate of change for delta or in other words, low velocity.
Options 1 or 2 strike prices OTM have the highest rate of gamma.
