It can be seen that the Delta value of the trader's overall position is 0.35, which means that this is a partial position, which is equivalent to a futures long position of 0.35.
Delta neutral hedging (Delta hedging)
If investors want to hedge the risk of options or future positions, Delta is the hedging ratio. As long as the total Delta value of the position remains at 0, a neutral hedging strategy is established. For example, an investor holds 10 put options, each with a Delta of -0.2 and a position Delta of -2. Investors can take any of the following transactions, which can achieve the neutrality of the position Delta and avoid the risk of long positions of 10 put options.