Hello,
I was looking at the option chain in robinhood and I was a bit confused as how to interpret two information such as chance of profit% vs. delta. ex) PYPL $65 Call 6/20 has a chance of profit 42.67% and the greek delta of 0.85 at the time of this writing. Since this is ITM option there is an intrinsic and extrinsic value and I understand that. I am somewhat puzzled by a chance of profit 42.67% and 0.85 delta. If my understanding is correct, it has 85% chance of ITM but why it has only 42.67% chance of profit? I understand that just because it's ITM doesn't guarantee the profit but these two numbers made me a bit confused. Can someone with an extensive knowledge explain to me how I need to properly interpret these two piece of information and how this profit % correlates to the delta? I just wanted to understand this information clearly.