"Delta" is the most commonly quoted Greek word that determines the change in option pricing in correspondence to the change in the underlying security's price.
Delta is often used as a rule-of-thumb; indicating the probability that the option will expire 'in-the-money'. Delta values range from positive or negative, depending on whether it's a call option or put option. Also, delta behavior is highly predictable. This predictability is favorable to traders, investors and brokers alike.
Delta is derived from the Black-Scholes model, but is readily available in the Brutus Options Ranker as well as most other brokerage platforms.
Delta is one of the most common and important greeks in options trading. It provides the clearest view of the contracts risk/reward in the moment and many traditional options trading 'rules of thumb' are based upon delta.
Here are a few potential uses for Delta in your Brutus Options Ranker Strategy:
Delta can be either negative or positive. Sometimes when we talk about Delta we talk about it in absolute terms. This is simpler for trader speak, but use with Brutus is more specific. As such, if your objective is to minimize Delta, in effect you will be maximizing the negative value of delta. If you intend to minimize delta to 0, then you should use a target of 0 instead.