Direxion Daily Financial ... (FAZ)
AMEX: FAZ
· Real-Time Price · USD
4.16
0.10 (2.46%)
At close: Sep 02, 2025, 3:59 PM
4.17
0.24%
After-hours: Sep 02, 2025, 07:37 PM EDT
FAZ Delta Exposure By Expiry
The total Delta Exposure (DEX) for FAZ across all expirations shows 6,825.99 net shares that market makers must hedge, with 51,700.12 from calls and 44,874.13 from puts. The put-call delta ratio of 0.87 suggests neutral market maker positioning. The largest delta concentration at Oct 17, 25 with 7,168.04 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Sep 5, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
FAZ DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 5, 25 | 1,036.62 | -50.25 | 986.37 | 0.05 |
| Sep 12, 25 | 539.56 | -10.84 | 528.72 | 0.02 |
| Sep 19, 25 | 3,336.47 | -1,245.35 | 2,091.12 | 0.37 |
| Sep 26, 25 | 171.85 | -27.98 | 143.87 | 0.16 |
| Oct 3, 25 | 49 | -20.67 | 28.33 | 0.42 |
| Oct 10, 25 | 0 | 0 | 0 | n/a |
| Oct 17, 25 | 7,944.07 | -776.03 | 7,168.04 | 0.10 |
| Jan 16, 26 | 15,773.44 | -19,798.15 | -4,024.71 | 1.26 |
| Apr 17, 26 | 231.32 | -14.64 | 216.68 | 0.06 |
| Jan 15, 27 | 22,617.79 | -22,930.22 | -312.43 | 1.01 |