Delta: underlying hila, premium kitna hila.
Doosre naam: delta, option delta, hedge ratio.
Is page ke kuch hisse abhi English mein hain.
Formula
Approximate premium change = Delta x Change in the underlying.
Ise kaise padhein
Delta ka jawab hamesha ek shart ke saath aata hai: sirf underlying hile, aur thoda hi hile. Us haalat mein premium kitna badlega, wahi delta batata hai.
At the money option ka delta lagbhag aadha hota hai, isliye woh har move ka lagbhag aadha hissa pakadta hai. Bahut door wale option ka delta shoonya ke paas hota hai — woh chhote move par lagbhag hilta hi nahi.
Yeh kya nahi batata
Bada move aane par delta khud badal chuka hota hai, isliye purana delta us move ko theek se nahi bata paata. Iss badlav ki raftaar ko gamma kehte hain.
Aur delta sirf underlying ka asar hai. Samay guzarne ka asar, aur volatility ke anumaan badalne ka asar, dono isme shamil nahi hain.
Experiment mein dekho
Jude hue concepts
Direction sahi thi, phir bhi option mein loss kyun hua?
Underlying upar gaya phir bhi premium nahi badha? Delta fixed nahi hota, time ghatta hai aur volatility apna kaam karti hai.
Lesson kholo