Waystar Holding Corp. (WAY)

The total Delta Exposure (DEX) for WAY across all expirations shows 93,566.06 net shares that market makers must hedge, with 175,154.19 from calls and 81,588.13 from puts. The put-call delta ratio of 0.47 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Jan 15, 27 with 59,490.71 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.