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What delta works the best for trading intra day options
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What delta works the best for trading intra day options

  #1 (permalink)
Trading Apprentice
Coqulle, Oregon, USA
 
Futures Experience: Intermediate
Platform: PC
Favorite Futures: Options
 
Posts: 2 since Jan 2013
Thanks: 0 given, 0 received

What delta works the best for trading intra day options

Hi all:

I am starting to paper trade options as an intra day trader. I have been trading options for some time now, and am pretty comfortable with it, but I am new to day trading. Most people seem to always trade the front month, as I am doing, but I would like to know what delta works the best for trading intra day, and why?

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  #2 (permalink)
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  #3 (permalink)
Elite Member
New York, NY
 
Futures Experience: Advanced
Platform: OptionVue
Broker/Data: IB
Favorite Futures: RUT, SPX options
 
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Posts: 157 since Apr 2010
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What exactly are you trying to accomplish? Do you simply want to use options as a proxy for the underlying or is your plan more complicated?

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  #4 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received

Hey man. Welcome to the forum. It depends on your capital and risk levels. Personally I trade options with a +0.80 delta for intraday plays (preferably 0.85). During opex and with weeklies in general, everything in the money is around those price levels.

Regular Ditm front month options will be expensive but it allows you to participate in the move as soon as it happens. Small-medium sized moves intraday won't affect most otm options and will be reflected slightly on ATM options but DITM options move in unison with the market

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  #5 (permalink)
Elite Member
sville sc
 
Futures Experience: Intermediate
Platform: ninja
Broker/Data: dorman/zenfire
Favorite Futures: ym
 
Posts: 10 since Dec 2009
Thanks: 0 given, 10 received

i use a delta of .7 myself

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  #6 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received

0.7 delta to day trade... Do you not have enough capital to buy a higher delta or do you trade options on +$100 stock?

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