14.8 Using Futures for Delta Hedging The delta of a futures contract is elra)r times the delta of a spot contract The position required in futures for delta hedging is therefore e-(r-q) times the position required in the corresponding spot contract Options, Futures, and other Derivatives, 5th edition 2002 by John C. HullOptions, Futures, and Other Derivatives, 5th edition © 2002 by John C. Hull 14.8 Using Futures for Delta Hedging • The delta of a futures contract is e (r-q)T times the delta of a spot contract • The position required in futures for delta hedging is therefore e -(r-q)T times the position required in the corresponding spot contract