Steel Dynamics Inc. (STLD)
NASDAQ: STLD
· Real-Time Price · USD
127.39
-0.09 (-0.07%)
At close: Aug 15, 2025, 2:07 PM
STLD Delta Exposure By Expiry
The total Delta Exposure (DEX) for STLD across all expirations shows 290,552.02 net shares that market makers must hedge, with 581,523.48 from calls and 290,971.46 from puts. The put-call delta ratio of 0.50 suggests neutral market maker positioning. The largest delta concentration at Jan 16, 26 with 111,957.15 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.
STLD DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 140,496.64 | -85,622.95 | 54,873.69 | 0.61 |
| Oct 17, 25 | 0 | 0 | 0 | n/a |
| Nov 21, 25 | 142,523.83 | -34,030.31 | 108,493.52 | 0.24 |
| Jan 16, 26 | 216,573.54 | -104,616.39 | 111,957.15 | 0.48 |
| Feb 20, 26 | 6,079.77 | -458.22 | 5,621.55 | 0.08 |
| Mar 20, 26 | 19,069.74 | -25,373.78 | -6,304.04 | 1.33 |
| May 15, 26 | 6,887.93 | -8,856.18 | -1,968.25 | 1.29 |
| Jun 18, 26 | 3,547.03 | -14,980.62 | -11,433.59 | 4.22 |
| Jul 17, 26 | 15,811.09 | -13,062.71 | 2,748.38 | 0.83 |
| Sep 18, 26 | 11,186.39 | -590.16 | 10,596.23 | 0.05 |
| Jan 15, 27 | 16,750.8 | -2,332.12 | 14,418.68 | 0.14 |
| Jun 17, 27 | 2,596.72 | -1,048.02 | 1,548.7 | 0.40 |