Raymond James Financial I... (RJF)

The total Delta Exposure (DEX) for RJF across all expirations shows 884,160.66 net shares that market makers must hedge, with 936,466.48 from calls and 52,305.82 from puts. The put-call delta ratio of 0.06 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Dec 18, 26 with 474,006 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Sep 19, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.