What does delta mean for assignment probability?

Delta approximates the probability an option finishes in-the-money. For short puts, 30 delta means roughly 30% chance the stock closes below your strike and you get assigned.

What delta should I use for cash-secured puts?

Many wheel traders use 20-30 delta for balance between premium and assignment risk. 30 delta ≈ 30% assignment probability; 20 delta ≈ 20%.

Assignment Probability Calculator

Delta approximates the probability of finishing in-the-money. For short puts, that's your assignment risk.

Delta (0 to 1)

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