Murphy USA Inc. (MUSA)
NYSE: MUSA
· Real-Time Price · USD
373.17
1.89 (0.51%)
At close: Sep 04, 2025, 3:59 PM
376.66
0.94%
After-hours: Sep 04, 2025, 05:36 PM EDT
MUSA Delta Exposure By Expiry
The total Delta Exposure (DEX) for MUSA across all expirations shows -43,899.29 net shares that market makers must hedge, with 62,952.42 from calls and 106,851.71 from puts. The put-call delta ratio of 1.70 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Dec 19, 25 with -41,553.87 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.
MUSA DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 11,621.36 | -9,898.14 | 1,723.22 | 0.85 |
| Oct 17, 25 | 16,644.16 | -18,838.82 | -2,194.66 | 1.13 |
| Dec 19, 25 | 15,810.56 | -57,364.43 | -41,553.87 | 3.63 |
| Jan 16, 26 | 18,684.91 | -19,902.12 | -1,217.21 | 1.07 |
| Apr 17, 26 | 191.43 | -848.2 | -656.77 | 4.43 |
| Jun 18, 26 | 0 | 0 | 0 | n/a |