How Do Brokers Typically Define the “Near-the-Money” Range?

Brokers and traders often define the "near-the-money" (NTM) range as options with a Delta between 0.30 and 0.70 (for Calls) or -0.30 and -0.70 (for Puts). This range encompasses options that are close enough to the ATM strike to have high Gamma and significant time value, but are not deep ITM or deep OTM.

The exact range can vary by convention.