Targa Resources Corp. (TRGP)
TRGP Daily Delta Exposure
TRGP's current Delta Exposure (DEX) is 404.29K shares, which is 31% larger than the 3M average of 307.63K shares. During this period, DEX ranged from 154.34K on May 21, 2025 to 597.67K on Jul 29, 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 0.40 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 13, 2025 | 678,352.56 | -274,065.49 | 404,287.07 | 0.40 |
| Aug 12, 2025 | 673,921.22 | -263,026.85 | 410,894.37 | 0.39 |
| Aug 11, 2025 | 666,592.42 | -281,570.65 | 385,021.77 | 0.42 |
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