All termsThe GreeksWorth knowing
Delta as Probability
Delta is sometimes used as a rough shortcut for estimating the probability that an option will finish in the money, but Delta is fundamentally a measure of option price sensitivity rather than a direct probability measure.
Why it matters to you
A trader may hear: "A 0.30 Delta means a 30% probability of expiring ITM." That can be a useful rough heuristic under certain assumptions, but it should not be treated as an exact or universal probability.