We define a new, more semantic interpretation of gradual types and use it to łgradualizež two forms of polymorphism: subtyping polymorphism and implicit parametric polymorphism. In particular, we use the new interpretation to define three gradual type systems ÐHindley-Milner, with subtyping, and with union and intersection typesÐ in terms of two preorders, subtyping and materialization. These systems are defined both declaratively and algorithmically. The declarative presentation consists in adding two subsumption-like rules, one for each preorder, to the standard rules of each type system. This yields more intelligible and streamlined definitions and shows a direct correlation between cast insertion and materialization. For the algorithmic presentation, we show how it can be defined by reusing existing techniques such as unification and tallying.