I was wondering what the shape of the graph of the delta or the binary option would be.

  • $\begingroup$ This question is also relevant quant.stackexchange.com/questions/22096/… $\endgroup$
    – Alex C
    Jun 27, 2019 at 2:39
  • 5
    $\begingroup$ The mnemonic I like is "the price of the binary option looks like the delta of a vanilla option, the delta of a binary option looks like the gamma of a vanilla option". It makes it easy to remeber what he graphs look like. $\endgroup$
    – nbbo2
    Jun 27, 2019 at 2:52

1 Answer 1


Here you go for three different levels of volatilities:

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