Delta

Delta measures how much an option's theoretical value is expected to change for a $1 change in the underlying asset price, assuming other relevant factors remain unchanged. Calls generally have positive Delta. Puts generally have negative Delta. Example A call has: Delta = 0.60 If the underlying rises by approximately $1, the option's theoretical value might initially be expected to increase by roughly: $0.60 all else equal. With a standard 100 share contract multiplier, that corresponds to approximately: $60 per contract.