Consider a Position in a Single Option on a Stock $\Delta P$

Consider a position in a single option on a stock. The position has a delta 12. The stock price is 10. What is an approximate relationship between the change in the portfolio value in one day, $\Delta P$ , and the return on the stock in one day, $\Delta x$ ? choose one)

A) $\Delta P = 12 \Delta x$
B) $\Delta P = 1.2 \Delta x$
C) $\Delta P = 120 \Delta x$
D) $\Delta P = 22 \Delta x$

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