ETH options delta hedge calculator
Choose option legs and signed underlying-coin quantities to estimate a delta-neutral linear-perp adjustment.
All quantities are ETH underlying coin, never venue contracts. Positive = long; negative = short. Select the venue and apply before choosing its legs.
USD reference: Bybit spot index, $2406.24 per ETH, observed 2026-10-19 21:28 UTC. This single reference prices the incremental hedge notional.
Select at least one valid leg to calculate. No total is shown until every selected leg is valid.
0 model fallback deltas. Missing delta uses Black-76 at source time with positive mark IV, forward and strike, zero interest rate. Invalid supplied deltas are rejected. Snapshots over 20 minutes old, over 60 seconds ahead, expired and unresolved legs are rejected.
Forward-delta approximation: option coin delta = Σ(signed coin quantity × delta). Net delta adds the existing linear-perp coin position; incremental hedge = −net delta; target total perp = −option delta. The linear perp is assumed to have one coin delta per coin.
This holds the observed snapshot constant. Prices, volatility, basis and time change delta, so future rebalancing is uncertain. It excludes premium valuation, fees, slippage, margin and liquidation risk. No dealer positioning is inferred from OI. No portfolio details are persisted by this tool; GET selections appear in the URL. Hypothetical sizing only; no orders are submitted.