Northern Oil and Gas Inc. (NOG)
NYSE: NOG
· Real-Time Price · USD
24.81
-0.05 (-0.20%)
At close: Aug 14, 2025, 3:59 PM
24.87
0.24%
Pre-market: Aug 15, 2025, 05:57 AM EDT
NOG Delta Exposure By Expiry
The total Delta Exposure (DEX) for NOG across all expirations shows -131,064.6 net shares that market makers must hedge, with 83,450.95 from calls and 214,515.55 from puts. The put-call delta ratio of 2.57 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Jan 16, 26 with -84,696.53 net DEX represents significant hedging pressure that could fuel downside acceleration. The nearest expiration on Sep 19, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
NOG DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 28,766.8 | -41,643.95 | -12,877.15 | 1.45 |
| Oct 17, 25 | 0 | 0 | 0 | n/a |
| Nov 21, 25 | 18,396.03 | -41,018.99 | -22,622.96 | 2.23 |
| Dec 19, 25 | 6,242.5 | -19,990.12 | -13,747.62 | 3.20 |
| Jan 16, 26 | 21,250.53 | -105,947.06 | -84,696.53 | 4.99 |
| Mar 20, 26 | 159.31 | -1,056.94 | -897.63 | 6.63 |
| May 15, 26 | 8,635.78 | -4,858.49 | 3,777.29 | 0.56 |