Church & Dwight Co. Inc. (CHD)

The total Delta Exposure (DEX) for CHD across all expirations shows -1,651.12 net shares that market makers must hedge, with 33,124.52 from calls and 34,775.64 from puts. The put-call delta ratio of 1.05 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Oct 17, 25 with -13,857.47 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.