SPS Commerce Inc. (SPSC)
SPSC Daily Delta Exposure
SPSC's current Delta Exposure (DEX) is 76.94K shares, which is 27% larger than the 3M average of 60.53K shares. During this period, DEX ranged from 5.25K on Jul 11, 2025 to 212.66K on Jul 21, 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 0.15 shows bullish call positioning but leaves the market vulnerable to pullbacks. Moderate DEX levels suggest normal market maker hedging activity.
DEX History
| Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 14, 2025 | 90,253.24 | -13,312.75 | 76,940.49 | 0.15 |
| Aug 13, 2025 | 90,231.31 | -12,164.84 | 78,066.47 | 0.13 |
| Aug 12, 2025 | 65,044.39 | -16,007.59 | 49,036.8 | 0.25 |
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