Alpine Income Property Tr... (PINE)

The total Delta Exposure (DEX) for PINE across all expirations shows -56.46 net shares that market makers must hedge, with 310.17 from calls and 366.63 from puts. The put-call delta ratio of 1.18 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Sep 19, 25 with -85.16 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.