Thanks in advance. How would I form an EXACT perfect hedge on an out of the money call option? eg: Long 20 SPY FEB 122 Puts at 6.94 with - 40 delta, would that mean I should take an EQUAL dollar amount on the SPY FEB 122 Calls ? or should i take EQUAL dollar amount with the FEB 129 CALLS at the idential inverted 40 delta? the purpose is to go into the next few days totally hedged for the purpose of unloading the calls at highs and puts at the lows. that part i can handle. thanks!