Delta is your speedometer
Delta answers one question: if the stock moves $1, how much does my option move? A call with a Delta of 0.60 gains about $0.60 per share when the stock climbs $1. That is $60 on a standard 100-share contract.
Delta answers one question: if the stock moves $1, how much does my option move? A call with a Delta of 0.60 gains about $0.60 per share when the stock climbs $1. That is $60 on a standard 100-share contract.