Use the Find Strike keyword in the Strike Fx of the Position Builder to pick the strike closest to a target delta.
Rules
- Enter delta as a decimal: 33% delta is
0.33. - For PE, use a negative value:
-0.33. - The expiry parameter must be a Select Expiry call (see the keyword documentation).
Accuracy note
Greeks are calculated from the LTP of each option in the chain. If an option is illiquid and its LTP is far from the bid-ask, its delta may be off, and Find Strike may pick a different strike than you expect.
Edited with AI from the original Tradetron article, checked against current docs (Oct 2026). Spot something wrong? Tell us in the Community.