I recently learnt about NIFTYBEES and BANKBEES. I want to try paper trading some hedging strategies with NIFTYBEES and BANKBEES (BEES+Options). So, I would like to know the Delta of these two BEES.
Is the delta of a these BEES fund derived by dividing by Index value. e.g NIFTY is 10876 today [2-dec-2018] and I see NIFTYBEES value as 1135. So, delta would be? (1135/10876=0.1)? Is this delta value constant?
for bankniftyBEES (2736/26862=0.1)? Again is this delta constant? Does it have a vega value also?