What Is the Typical Delta of an At-the-Money Option?

The typical delta of an at-the-money (ATM) option is approximately 0.50. Delta measures the option's sensitivity to a change in the underlying asset's price.

A delta of 0.50 means that for every one-unit change in the underlying price, the option's price is expected to change by 0.50 units. This value reflects the roughly 50 percent probability of the ATM option expiring in-the-money.