So I understand what delta -1 to 1 is about, but what about the delta of a existing position?
For example, I am looking at an AMD 18 Jun 26 185 call with a delta of 59.22. What does this number represent? And let's say I expect AMD to drop in the next 2-3 months and I want to protect this position, how do I go about doing so that I am delta neutral?
Posted by Wesutt