How Does the ‘Delta’ of an Option Contract Relate to Its Sensitivity to the Underlying Crypto’s Price Change?

Delta is an option Greek that measures the expected change in the option's price for every one-unit change in the price of the underlying cryptocurrency. It ranges from 0 to 1 for Call options and -1 to 0 for Put options.

A Delta of 0.50 means the option price is expected to move 50 cents for every $1 move in the underlying asset. Delta is also a proxy for the probability that the option will expire in-the-money.