As the index moves upward, the option, depending on how deep-in-the-money, will move proportionally to the security based on its underlying delta. ... The importance of delta in regard to put options is its use in determining the hedge ratio.
|Title||:||Ordinary People, Extraordinary Profits|
|Author||:||David S. Nassar|
|Publisher||:||John Wiley & Sons - 2005-10-28|