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How Many Bitcoin Futures Contracts Are Needed to Delta-Hedge 100 Call Options with a Delta of 0.65?

The total Delta is 65, so the trader must short 65 Bitcoin futures contracts to Delta-hedge the position.
Greeks.Live23.11.25

How Many Bitcoin Futures Contracts Are Needed to Delta-Hedge 100 Call Options with a Delta of 0.65?

To Delta-hedge 100 call options, each with a Delta of 0.65, a trader needs to calculate the total Delta exposure. The total Delta is $100 times 0.65 = 65$.

Assuming one Bitcoin futures contract represents one unit of Bitcoin, the trader needs to short 65 Bitcoin futures contracts to achieve a Delta-neutral position. Shorting the futures offsets the positive Delta of the long call options.

This hedging ratio must be constantly monitored and adjusted as the option's Delta changes.

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