Tenet Healthcare Corporat... (THC)
THC Daily Delta Exposure
THC's current Delta Exposure (DEX) is 1.14M shares, which is 112% larger than the 3M average of 537.07K shares. During this period, DEX ranged from 128.63K on Jul 24, 2025 to 1.14M on Aug 15, 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 0.22 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 15, 2025 | 1,452,534.37 | -314,830.27 | 1,137,704.1 | 0.22 |
| Aug 14, 2025 | 1,393,236.59 | -323,121.17 | 1,070,115.42 | 0.23 |
| Aug 13, 2025 | 1,363,125.8 | -330,615.46 | 1,032,510.34 | 0.24 |
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