In the following graph there's an example of Delta for a Call Option and a Put Option. I understand what this greek means and I understand why it's positive for calls and negative for puts. What I don't understand is the x-axis label in the "Put Delta" graph.

My confusion is: why is OTM to the left of Strike and ITM to the right? Shouldn't they be flipped since a Put is ITM when the underyling is lower than the strike and vice-versa? Or am I reading the axes wrong.


enter image description here

  • 8
    $\begingroup$ You are correct, that graph for the Put option is incorrect: it should be OTM to the right and ITM to the left. $\endgroup$ – Jan Stuller Oct 31 '20 at 12:58
  • 2
    $\begingroup$ +1. Thanks a lot ! $\endgroup$ – Metrician Nov 1 '20 at 15:34

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