Howmet Aerospace Inc. (HWM)
NYSE: HWM
· Real-Time Price · USD
171.07
-4.92 (-2.80%)
At close: Aug 15, 2025, 1:34 PM
HWM Delta Exposure By Expiry
The total Delta Exposure (DEX) for HWM across all expirations shows 1,470,614.68 net shares that market makers must hedge, with 2,457,633.13 from calls and 987,018.45 from puts. The put-call delta ratio of 0.40 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Jan 16, 26 with 502,967.76 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Aug 22, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
HWM DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 22, 25 | 29,545.85 | -47,231.97 | -17,686.12 | 1.60 |
| Aug 29, 25 | 18,700.19 | -23,541.81 | -4,841.62 | 1.26 |
| Sep 5, 25 | 6,713.66 | -8,696.6 | -1,982.94 | 1.30 |
| Sep 12, 25 | 22,016.33 | -75,598.15 | -53,581.82 | 3.43 |
| Sep 19, 25 | 824,381.52 | -351,107.42 | 473,274.1 | 0.43 |
| Sep 26, 25 | 366.34 | -870.24 | -503.9 | 2.38 |
| Oct 17, 25 | 473,436.48 | -184,788.72 | 288,647.76 | 0.39 |
| Jan 16, 26 | 719,782.99 | -216,815.23 | 502,967.76 | 0.30 |
| Apr 17, 26 | 0 | 0 | 0 | n/a |
| Jun 18, 26 | 68,883.71 | -44,344.36 | 24,539.35 | 0.64 |
| Jan 15, 27 | 293,806.06 | -34,023.95 | 259,782.11 | 0.12 |