Calculating Greeks in Covered Calls?

Just want to confirm whether Delta, Gamma, Theta, Vega will be calculated in the following way? Since we own 100 shares of stock while selling a call we need to subtract greek value from one? right?

Covered Call Delta = 1 - "Long Call delta"

Covered Call Gamma = 1 - "Long Call gamma"

Covered Call Theta = 1 - "Long Call theta"

Covered Call Vega = 1 - "Long Call vega"

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Just my 2 cents, should my hunch be right that you are a developer haunted with the daunting task to implement financial options concepts without a clear road map then I highly recommend you to go back to your project manager or trading desk head and ask them to walk you though all the concepts themselves. That is not your job and you should not have to bother with that. Its as if a trader is asked to program an FPGA board. Ask them to give the formulae and functions to you and be available to answer any finance theory related questions... –  Matt Wolf Oct 29 '13 at 3:25

You are right for delta but wrong for other greeks.

Delta of stock is 1 so Covered call Delta = 1 - "long call delta" is correct

However a stock doesn't have gamma , theta or vega. So these greeks of your covered call positions will be just that of short call. i.e

Covered Call Gamma =  - "Long Call gamma"

Covered Call Theta =  - "Long Call theta"

Covered Call Vega =  - "Long Call vega"

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