What delta works the best for trading intra day options
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?
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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