How Does a Change in the Strike Price Affect the Delta of an Option?

A change in the strike price has a significant and inverse effect on an option's Delta. For a call option, increasing the strike price makes the option more Out-of-the-Money (OTM) or less In-the-Money (ITM), which lowers its Delta (closer to 0).

Conversely, lowering the strike price makes the call more ITM, increasing its Delta (closer to 1). For a put option, the effect is opposite: a higher strike increases the absolute value of its negative Delta (closer to -1).