The greek that represents the rate of change of the value of an option in relation to the underlying movement. Delta has THREE functions in option risk management and pricing

              1. Rate of Change
              2. Chance option will end up In the Money.
              3. Hedge Ratio

For instance ATM options are 50 Delta, for every 1 Dollar movement of the underlying the option will move 50 cents in the corresponding direction, they have a 50% chance of being in the money, and you need to hedge 50 shares for every 100 lot contract.

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