(JVAL)

The total Delta Exposure (DEX) for JVAL across all expirations shows 92.72 net shares that market makers must hedge, with 101.05 from calls and 8.33 from puts. The put-call delta ratio of 0.08 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Nov 21, 25 with 92.72 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.