I understand that when a vanilla European option is near expiry, the Theta calculated from BS formula is very inaccurate and almost meaningless for practical use.
However, I'm not sure if other Greeks, such as Gamma and Vega, also have the same characteristics, i.e. becoming inaccurate near expiry.
If so, is there any other model that overcomes this problem for expiring options?
Apologies that I was not from a quant/math background; I'm asking this question from a very practical trading/risk-management perspective. I'd appreciate if anyone can point a direction for me to read further into.
Edit: I'm just looking at the simplest vanilla European options for equity index, not any exotic ones.