Treace Medical Concepts I... (TMCI)

The total Delta Exposure (DEX) for TMCI across all expirations shows 364.42 net shares that market makers must hedge, with 482.58 from calls and 118.16 from puts. The put-call delta ratio of 0.24 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Dec 19, 25 with 252.89 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.