Imran Lakha | Options Insight(@options_insight):The delta pairing I use on a hedging put spread When building a put spread for protection, I pick it in delta space rather than strikes. Buy around a 30 to 40 delta put. Sell near 15 delta to cheapen it. Protection where a drawdown starts, financed by a strike far enough out to be worth selling. These are just guideline to get you started, then you adjust strikes to fit your risk/reward and views.

Imran Lakha | Options Insight

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Imran Lakha | Options Insight@options_insight

2026.09.04 14:52

The delta pairing I use on a hedging put spread When building a put spread for protection, I pick it in delta space rather than strikes. Buy around a 30 to 40 delta put. Sell near 15 delta to cheapen it. Protection where a drawdown starts, financed by a strike far enough out to be worth selling. These are just guideline to get you started, then you adjust strikes to fit your risk/reward and views.