Convexity, Options Trading, Volatility Trading, Moontower, Option Greeks.
100 50% delta calls is equivalent to 5,000 shares of stock (100 x .50 delta x 100 share multiplier per option). If I were bullish, I could buy the stock and say I’m long 5,000 deltas. I could also have chosen to buy 100 50% delta calls. I would still say I’m long 5,000 deltas. This allows me to