STKd 100% Bitcoin & 100% ... (BTGD)
NASDAQ: BTGD
· Real-Time Price · USD
37.81
0.70 (1.89%)
At close: Aug 20, 2025, 3:59 PM
37.95
0.37%
After-hours: Aug 20, 2025, 07:35 PM EDT
BTGD Delta Exposure By Expiry
The total Delta Exposure (DEX) for BTGD across all expirations shows 855.83 net shares that market makers must hedge, with 1,712.33 from calls and 856.5 from puts. The put-call delta ratio of 0.50 suggests neutral market maker positioning. The largest delta concentration at Nov 21, 25 with 817.79 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Sep 19, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
BTGD DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 377.67 | -635.17 | -257.5 | 1.68 |
| Oct 17, 25 | 0 | 0 | 0 | n/a |
| Nov 21, 25 | 1,033.08 | -215.29 | 817.79 | 0.21 |
| Feb 20, 26 | 301.58 | -6.04 | 295.54 | 0.02 |