See the below screenshot on Delta hedging and read my notes at the bottom of the screenshot. I only know how to complete this analysis in the TOS platform, as I have made this my tool for all my analytics.
Oh in my notes I forgot to mention that the Blue outline is the total negative delta exposure I got from the Long puts.
I forgot to mention that this only gives you protection from directional risk. You still have exposure to the other greeks, which you will also see at the bottom of the screen shot on the WTD subtotals line.
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