Booz Allen Hamilton (BAH)

The total Delta Exposure (DEX) for BAH across all expirations shows -105,018.47 net shares that market makers must hedge, with 473,377.99 from calls and 578,396.46 from puts. The put-call delta ratio of 1.22 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Sep 19, 25 with -167,949.72 net DEX represents significant hedging pressure that could fuel downside acceleration. The nearest expiration on Sep 19, 25 carries negative delta forcing market makers to buy shares, potentially providing support.