Delta Position
A measure of option price vs. the underlying futures contract or stock price.
Demand Index
An index that shows the buying and selling power of markets and stocks from mathematical calcu lations of volume and price ratios.
Delta-neutral spread: A spread in which the total delta position on the long side and the total delta position on the short side add up to approximately zero.
A spread where the total delta position on the long side and on the short side add up to approximately zero, thereby making the commodity risk neutral.
The Gamma is extremely high which causes the Delta position to move outrageously fast. This means that the option trader can lose all of his profits in a single day if the market has a decent move.
Yes, you would want the straddle to be ATM. If you chose an ITM call and OTM put then the position would have a large long delta position, which means a strong upwards bias.
Neutral spread (delta-neutral spread). A compound option strategy that consists of a long option position and a short option position whose respective total delta positions are relatively equal.
A zero delta position, by definition, is neither long nor short. Therefore, the position theoretically has limited risk.
 See also: Spread, Delta, Position, Neutral, Long
  
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