$($a$)$ Explain the term Option Greeks

$($b$)$ Define the following in relation to derivative markets:

I. Delta

II$.$ Gamma

III. Vega

IV$.$ Theta

V$.$ Rho

VI$.$ Psi

VII. Floor

VIII. Synthetic Forward

IX$.$ Bull spread

X$.$ Collar

XI$.$ Ratio Spread

Question $2$

Explain in detail, how to set up the following positions and draw a full labelled graph for each. Noting that the y$-$axis is Profit, x$-$axis is Stock Price:

$($a$)$ Straddle

$($b$)$ Strangle

$($c$)$ Butterfly Spread