Pathward Financial Inc. (CASH)

The total Delta Exposure (DEX) for CASH across all expirations shows -15,253.45 net shares that market makers must hedge, with 60,786.19 from calls and 76,039.64 from puts. The put-call delta ratio of 1.25 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Dec 19, 25 with -20,359.61 net DEX represents significant hedging pressure that could fuel downside acceleration. The nearest expiration on Sep 19, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.