All termsThe GreeksWorth knowing
Delta Equivalent
Delta equivalent translates an options position's Delta into an approximate amount of underlying directional exposure. Example Suppose one standard equity call has: Delta = 0.60 and multiplier: 100 Approximate share equivalent Delta: 0.60 × 100 = 60 The position therefore has roughly the immediate directional sensitivity of 60 shares, before considering Gamma and the other Greeks.
Why it matters to you
This makes Delta much more intuitive when comparing options with stock positions. But the exposure is dynamic because Delta changes.