/biz/ - Business & Finance

>>57916745
Oh I was just shitposting and overcomplicating it. There are several free options calculators that all work the same way and do this for you. One share = 1 delta. An ATM put or call will have 50 delta. An OTM one will have less, and ITM will have more. Note that second-order greeks change how the greeks change. Eg, how delta changes over time or as volatility changes. Options have time value, so you'll want to buy one that has reasonable time left (eg don't do 1 week, get like 30-40 days). Puts often have a higher cost because of hedging. ITM will be more likely to expire in your favor, but cost more initially.
In picrel, you're delta neutral, but have negative theta (losing value every day). You have a huge exposure to gamma - you're betting on a huge move long or short before the contracts expire. But as price and time changes, you'll have to rehedge and either buy or sell shares or contracts to stay delta neutral.