Sunnova Energy Internatio... (NOVA)
NYSE: NOVA
· Real-Time Price · USD
0.22
0.02 (7.84%)
At close: Jun 06, 2025, 3:59 PM
NOVA Delta Exposure By Expiry
The total Delta Exposure (DEX) for NOVA across all expirations shows -4,933.74 net shares that market makers must hedge, with 7,986.47 from calls and 12,920.21 from puts. The put-call delta ratio of 1.62 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Jan 16, 26 with -4,147.72 net DEX represents significant hedging pressure that could fuel downside acceleration. The nearest expiration on Oct 17, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
NOVA DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Oct 17, 25 | 186.5 | -55.18 | 131.32 | 0.30 |
| Dec 19, 25 | 2,442.3 | -1,289.02 | 1,153.28 | 0.53 |
| Jan 16, 26 | 4,385.99 | -8,533.71 | -4,147.72 | 1.95 |
| Dec 18, 26 | 118.48 | -1,381.57 | -1,263.09 | 11.66 |
| Jan 15, 27 | 853.2 | -1,660.73 | -807.53 | 1.95 |