(SPHB)
AMEX: SPHB
· Real-Time Price · USD
103.10
-1.09 (-1.05%)
At close: Aug 15, 2025, 3:59 PM
102.50
-0.58%
After-hours: Aug 15, 2025, 07:47 PM EDT
SPHB Delta Exposure By Expiry
The total Delta Exposure (DEX) for SPHB across all expirations shows 15,772.11 net shares that market makers must hedge, with 28,902.77 from calls and 13,130.66 from puts. The put-call delta ratio of 0.45 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Jan 16, 26 with 8,807.54 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.
SPHB DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 14,301.61 | -11,491.81 | 2,809.8 | 0.80 |
| Oct 17, 25 | 0 | 0 | 0 | n/a |
| Dec 19, 25 | 5,647.77 | -1,064.79 | 4,582.98 | 0.19 |
| Jan 16, 26 | 8,807.54 | 0 | 8,807.54 | 0.00 |
| Mar 20, 26 | 145.85 | -574.06 | -428.21 | 3.94 |