Fomento Económico Mexican... (FMX)

The total Delta Exposure (DEX) for FMX across all expirations shows -261,793.58 net shares that market makers must hedge, with 2,638.69 from calls and 264,432.27 from puts. The put-call delta ratio of 100.21 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Sep 19, 25 with -240,296.97 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.