I'm in the process of developing a pairs system using non directional/ delta neutral option strategies and trying to figure out the best way to calculate position sizing. WIth equities, I can just purchase an equal dollar amount of shares. If I was straight puts or calls I could trade equal amounts of delta. But in this case the trade is delta neutral (at least when I put it on) meaning I need to look somewhere else.... Has anyone had any experience with these strategies, used a position sizing technique that may be transferrable or know of any academic material that might cover something similar? Thanks in advance!!