ConocoPhillips (COP)
NYSE: COP
· Real-Time Price · USD
96.10
0.45 (0.47%)
At close: Aug 15, 2025, 1:18 PM
COP Delta Exposure By Expiry
The total Delta Exposure (DEX) for COP across all expirations shows 840,959.17 net shares that market makers must hedge, with 4,100,303.52 from calls and 3,259,344.35 from puts. The put-call delta ratio of 0.79 suggests neutral market maker positioning. The largest delta concentration at Sep 19, 25 with 769,247.07 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Aug 22, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
COP DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 22, 25 | 280,744.52 | -131,682.4 | 149,062.12 | 0.47 |
| Aug 29, 25 | 104,651.98 | -38,429.08 | 66,222.9 | 0.37 |
| Sep 5, 25 | 44,843.51 | -12,708.42 | 32,135.09 | 0.28 |
| Sep 12, 25 | 22,885.77 | -5,869.08 | 17,016.69 | 0.26 |
| Sep 19, 25 | 1,164,349.24 | -395,102.17 | 769,247.07 | 0.34 |
| Sep 26, 25 | 4,253.03 | -984.3 | 3,268.73 | 0.23 |
| Oct 17, 25 | 227,896.95 | -86,471.76 | 141,425.19 | 0.38 |
| Nov 21, 25 | 334,855.54 | -250,523.15 | 84,332.39 | 0.75 |
| Jan 16, 26 | 1,141,381.73 | -1,311,337.97 | -169,956.24 | 1.15 |
| Feb 20, 26 | 49,016 | -25,110.75 | 23,905.25 | 0.51 |
| Mar 20, 26 | 138,696.26 | -109,544.98 | 29,151.28 | 0.79 |
| Jun 18, 26 | 173,110.54 | -241,057.77 | -67,947.23 | 1.39 |
| Sep 18, 26 | 18,645.56 | -20,738.39 | -2,092.83 | 1.11 |
| Dec 18, 26 | 126,639.94 | -238,893.6 | -112,253.66 | 1.89 |
| Jan 15, 27 | 213,844.55 | -331,359.2 | -117,514.65 | 1.55 |
| Dec 17, 27 | 54,488.4 | -59,531.33 | -5,042.93 | 1.09 |