What is a 30 delta option?
Excuse me, could you please clarify what is meant by a "30 delta option"? I've heard the term before but I'm not entirely sure of its definition. Is it related to the likelihood of an option being exercised, or perhaps its sensitivity to changes in the underlying asset's price? I'm particularly interested in how it might relate to cryptocurrency options trading, as I'm looking to expand my knowledge in that area. Thank you in advance for your explanation.