Azul S.A. (AZUL)
NYSE: AZUL
· Real-Time Price · USD
0.50
0.01 (2.33%)
At close: May 27, 2025, 3:59 PM
AZUL Delta Exposure By Expiry
The total Delta Exposure (DEX) for AZUL across all expirations shows 328.23 net shares that market makers must hedge, with 2,590.55 from calls and 2,262.32 from puts. The put-call delta ratio of 0.87 suggests neutral market maker positioning. The largest delta concentration at Jan 15, 27 with 663.68 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Nov 21, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
AZUL DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Nov 21, 25 | 0 | -164.54 | -164.54 | n/a |
| Jan 16, 26 | 1,926.87 | -2,097.78 | -170.91 | 1.09 |
| Jan 15, 27 | 663.68 | 0 | 663.68 | 0.00 |