A measure of how much an option's price will change when the underlying asset's price moves by one dollar. Delta ranges from 0 to 1 for call options and -1 to 0 for put options.
A call option has a delta of 0.60, meaning if the underlying stock rises $1, the option price will rise approximately $0.60. If the stock falls $1, the option price will fall approximately $0.60.
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