Strategy

Delta Neutral

By Ryan Silk & Lawrence Polatchek · Reviewed April 2026 · Options Trading Glossary

Position with zero net delta

What is Delta Neutral?

Delta Neutral A position with zero net delta, meaning it doesn't profit or lose from small moves in the underlying. Profits from other factors like theta or vega.

Complete Definition

A position with zero net delta, meaning it doesn't profit or lose from small moves in the underlying. Profits from other factors like theta or vega.

Related Terms

Delta Delta Hedging Gamma Scalping

Written by

ApexVol Research Team

Quantitative options research

All calculations use live ORATS institutional data — the same source used by professional volatility desks.

Technical reviewer

Ryan Silk, ApexVol Founder

Reviewed for technical accuracy

10+ years trading options. Built ApexVol's pricing engine, Greeks model, and IV-rank methodology.

This guide is updated as market conditions and ORATS data change. Last revised 2026-05-12. How we research →

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