TEGNA Inc. (TGNA)
NYSE: TGNA
· Real-Time Price · USD
20.55
-0.45 (-2.14%)
At close: Aug 15, 2025, 2:40 PM
TGNA Delta Exposure By Expiry
The total Delta Exposure (DEX) for TGNA across all expirations shows 24,887.3 net shares that market makers must hedge, with 63,929.52 from calls and 39,042.22 from puts. The put-call delta ratio of 0.61 suggests neutral market maker positioning. The largest delta concentration at Oct 17, 25 with 13,126.22 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Sep 19, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
TGNA DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 10,862.58 | -16,757.59 | -5,895.01 | 1.54 |
| Oct 17, 25 | 13,690.8 | -564.58 | 13,126.22 | 0.04 |
| Dec 19, 25 | 26,243.68 | -14,364.36 | 11,879.32 | 0.55 |
| Jan 16, 26 | 5,270.43 | -95.74 | 5,174.69 | 0.02 |
| Mar 20, 26 | 3,281.58 | -31.81 | 3,249.77 | 0.01 |
| Apr 17, 26 | 0 | 0 | 0 | n/a |
| Jun 18, 26 | 184.9 | -159.2 | 25.7 | 0.86 |
| Sep 18, 26 | 218.18 | 0 | 218.18 | 0.00 |
| Dec 18, 26 | 4,177.37 | -7,068.94 | -2,891.57 | 1.69 |