Show notes: http://optionalpha.com/show117

One of the most popular and widely used options greek is Delta. And while I believe that you can't necessarily learn about option pricing and option greeks in a vacuum as they all work together to represent potential price action for changing market conditions, having a solid understanding of how Delta works is important both in entering new positions and managing your basket of trades in a portfolio. Today's show dives a little deeper into the lead greek and covers both a basic understanding of what Delta is and how it works, plus some more high level insights into how I used Delta to enter our recent trade in XLE.