Spreads are constructed to be delta-neutral, meaning that holding a spread strategy involves no delta risk. Delta refers to how the price of an instrument changes in relation to the reference asset. For instance when the price of BTC/USDT moves up by 1 USDT we would expect the price of a BTC/USDT quarterly future to also move up by about 1 USDT.

OKX Crypto Options Principles and Strategies III: Delta and Delta-NeutralHow do I update the candlestick chart? There are two ways to update the candlestick chart: Select on the candlestick icon to the right of any leg in your strategy Use the drop-down menu above the chartWhere can I find descriptions for each of the pre-defined strategies? Each of the predefined strategies offered on Block Trading by OKX are explained in our academy under the "Trading" topic.