Braze Inc. (BRZE)
NASDAQ: BRZE
· Real-Time Price · USD
25.52
0.98 (3.99%)
At close: Aug 15, 2025, 2:48 PM
BRZE Delta Exposure By Expiry
The total Delta Exposure (DEX) for BRZE across all expirations shows 19,188.12 net shares that market makers must hedge, with 46,127.47 from calls and 26,939.35 from puts. The put-call delta ratio of 0.58 suggests neutral market maker positioning. The largest delta concentration at Feb 20, 26 with 11,883.64 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Sep 19, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
BRZE DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 4,605.49 | -4,384.71 | 220.78 | 0.95 |
| Oct 17, 25 | 20,447.23 | -12,588.05 | 7,859.18 | 0.62 |
| Nov 21, 25 | 6,276.97 | -7,093.22 | -816.25 | 1.13 |
| Jan 16, 26 | 0 | 0 | 0 | n/a |
| Feb 20, 26 | 14,718.12 | -2,834.48 | 11,883.64 | 0.19 |
| Dec 18, 26 | 79.66 | -38.89 | 40.77 | 0.49 |