(ECH)
CBOE: ECH
· Real-Time Price · USD
31.97
-0.22 (-0.68%)
At close: Aug 20, 2025, 3:00 PM
ECH Delta Exposure By Expiry
The total Delta Exposure (DEX) for ECH across all expirations shows 15,408.54 net shares that market makers must hedge, with 18,744.3 from calls and 3,335.76 from puts. The put-call delta ratio of 0.18 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Feb 20, 26 with 8,104.99 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Sep 19, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
ECH DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 354.78 | -358.24 | -3.46 | 1.01 |
| Oct 17, 25 | 73.94 | 0 | 73.94 | 0.00 |
| Nov 21, 25 | 9,821.96 | -2,588.89 | 7,233.07 | 0.26 |
| Feb 20, 26 | 8,493.62 | -388.63 | 8,104.99 | 0.05 |