Delta Neutral Hedging

Sizes an options hedge so the combined book carries close to zero net delta. Streaming delta is pulled for every contract you build with the option symbol formula, alongside bid, ask and last price for the underlying, then position delta is totalled across the stock and option legs.

Rehedging as prices move is the whole exercise, so the delta column updates while the market is open and the neutral share count recalculates on each refresh. Change the contracts or the share quantity and the sheet shows how far the position has drifted from neutral.