We'll show you how to pin your probability of profit with ITM probabilities and Delta (in case you're using a broker platform that doesn't calculate probabilities for you). A key point to remember here is that if you've done all of the right steps and homework for selecting a liquid stock and the right strategy, then picking strike prices is as easy as figuring out how many times you'd like to win on a trade over time and how much risk you would like to take in the process.