Light & Wonder Inc. (LNW)
NASDAQ: LNW
· Real-Time Price · USD
88.17
0.05 (0.06%)
At close: Aug 15, 2025, 3:59 PM
88.21
0.04%
After-hours: Aug 15, 2025, 04:40 PM EDT
LNW Delta Exposure By Expiry
The total Delta Exposure (DEX) for LNW across all expirations shows 37,775.48 net shares that market makers must hedge, with 94,531.4 from calls and 56,755.92 from puts. The put-call delta ratio of 0.60 suggests neutral market maker positioning. The largest delta concentration at Oct 17, 25 with 21,820.31 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Sep 19, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
LNW DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 13,337.02 | -1,741.57 | 11,595.45 | 0.13 |
| Oct 17, 25 | 44,069.07 | -22,248.76 | 21,820.31 | 0.50 |
| Nov 21, 25 | 24,323.25 | -26,047.39 | -1,724.14 | 1.07 |
| Jan 16, 26 | 12,802.06 | -6,718.2 | 6,083.86 | 0.52 |
| Apr 17, 26 | 0 | 0 | 0 | n/a |