I thought to start this thread to revisit the topic of delta. Many incorrect things are written about delta, and a number of insights reside in people's mind but are not written down. Readers who have questions/comments/insignts related to delta can ask them here. If you came across good threads discussing delta, post links below. The issue of delta came up recently in thread on delta depreciation, and some questions about delta were debated. The link is: http://www.elitetrader.com/vb/showthread.php?s=&threadid=201844 Some questions to start the discussion: 1. What are the simplest ways to explain and interpret delta to a newbie? 2. What are the most common misconceptions about delta? 3. How do you use delta in practice to make money? 4. Did you ever lose money because of a misunderstanding/too much understanding of delta? 5. Anecdotes about delta.