Chapter 22, Problem 35QP

Summary Introduction

To explain: Difference between $\text{N}\left({\text{d}}_{\text{1}}\right)-1$ and $-\text{N}\left(-{\text{d}}_{\text{1}}\right)$.

Put Delta:

Delta used to calculate the degree to which an opportunity is exposed to change in the price of the underlying assets that is stock or commodity. Delta is one of the major risk checker used by the option traders.