Viking Ltd (VIK)

The total Delta Exposure (DEX) for VIK across all expirations shows 128,321.6 net shares that market makers must hedge, with 184,932.31 from calls and 56,610.71 from puts. The put-call delta ratio of 0.31 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Nov 21, 25 with 59,329.22 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.