JBG SMITH Properties (JBGS)

The total Delta Exposure (DEX) for JBGS across all expirations shows -2,284.8 net shares that market makers must hedge, with 10,487.65 from calls and 12,772.45 from puts. The put-call delta ratio of 1.22 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Dec 19, 25 with -5,008.13 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.