Regulus Therapeutics Inc. (RGLS)

The total Delta Exposure (DEX) for RGLS across all expirations shows -5,126.25 net shares that market makers must hedge, with 48.96 from calls and 5,175.21 from puts. The put-call delta ratio of 105.70 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Nov 21, 25 with -5,134.41 net DEX represents significant hedging pressure that could fuel downside acceleration. The nearest expiration on Nov 21, 25 carries negative delta forcing market makers to buy shares, potentially providing support.