Spotify Technology S.A. (SPOT)
SPOT Daily Delta Exposure
SPOT's current Delta Exposure (DEX) is 18.13M shares, which is 51% larger than the 3M average of 11.98M shares. During this period, DEX ranged from 3.96M on Jul 29, 2025 to 20.21M on Aug 8, 2025, with dealers maintaining net short exposure requiring continuous hedging. Delta exposure has been increasing recently, forcing increased dealer shorting that could cap rallies. The current put-call delta ratio of 0.28 shows bullish call positioning but leaves the market vulnerable to pullbacks. Near extreme DEX levels suggest potential for mean reversion as positions unwind.
DEX History
| Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 14, 2025 | 25,330,274.95 | -7,202,997.99 | 18,127,276.96 | 0.28 |
| Aug 13, 2025 | 24,323,425.53 | -7,610,283.46 | 16,713,142.07 | 0.31 |
| Aug 12, 2025 | 23,577,006.84 | -7,675,628.42 | 15,901,378.42 | 0.33 |
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