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Delta Definitions

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Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.

Delta measures the following things:

  • Directional risk
  • Portfolio delta
  • ITM options have the most amount of directional risk; OTM options have the least.

Being long/short delta is the equivalent of being long/short a number of shares.

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