Can somebody help me understand the relevance of the Greeks? If options are priced through the bid/ask auction, how do the Greeks, specifically delta, come into play? For example, I understand delta is meant to capture the amount by which the options premium will move in response to a $1 movement in the underlying. Hypothetically then, if the price of the underlying increased by $5, the price of my options contract should increase by 5 times the delta, if we disregard the other Greeks for now for purposes of simplicity.

Here's what I'm trying to ask. If my options contract is currently priced at $14, and the bids/asks continue to hover around $13.9 and $14.1, does that imply my options contract will continue to be priced at $14, even if the price of the underlying goes up by say $20 dollars?