What are the independent variables in the equity options, Financial Management

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What are the independent variables in the equity options

What are the independent variables in the equity options pricing model? What is the most likely delta for an at-the-money call? What is the most likely delta for an at-the-money put? Why do some portfolio managers attempt to remain delta neutral? Why do straddle writers attempt to remain delta neutral? I need an expert that can answer the question in detail not to copy the answer on this site.

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