Black Stone Minerals L.P. (BSM)
NYSE: BSM
· Real-Time Price · USD
12.45
0.00 (0.00%)
At close: Aug 15, 2025, 10:57 AM
BSM Delta Exposure By Expiry
The total Delta Exposure (DEX) for BSM across all expirations shows -2,660.38 net shares that market makers must hedge, with 9,626.02 from calls and 12,286.4 from puts. The put-call delta ratio of 1.28 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Oct 17, 25 with -1,215.68 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.
BSM DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 1,668.61 | -2,005.94 | -337.33 | 1.20 |
| Oct 17, 25 | 2,219.37 | -3,435.05 | -1,215.68 | 1.55 |
| Jan 16, 26 | 5,738.04 | -6,845.41 | -1,107.37 | 1.19 |
| Apr 17, 26 | 0 | 0 | 0 | n/a |