Explain How Gamma Affects the Delta of an OTM Option.
Gamma measures the rate of change of an option's Delta for a $1 change in the underlying crypto's price. OTM options generally have a lower Gamma than At-The-Money (ATM) options.
A low Gamma means the Delta of the OTM option will change slowly as the underlying price moves. If the price moves closer to the strike, Gamma increases, causing Delta to accelerate rapidly toward 0.5.