ZTO Express (Cayman) Inc. (ZTO)
NYSE: ZTO
· Real-Time Price · USD
19.91
0.08 (0.40%)
At close: Aug 15, 2025, 3:59 PM
19.80
-0.58%
After-hours: Aug 15, 2025, 05:45 PM EDT
ZTO Delta Exposure By Expiry
The total Delta Exposure (DEX) for ZTO across all expirations shows 23,652.53 net shares that market makers must hedge, with 133,680.72 from calls and 110,028.19 from puts. The put-call delta ratio of 0.82 suggests neutral market maker positioning. The largest delta concentration at Dec 19, 25 with 41,871.57 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.
ZTO DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 9,868.15 | -5,755.83 | 4,112.32 | 0.58 |
| Oct 17, 25 | 7,587.91 | -2,513.05 | 5,074.86 | 0.33 |
| Dec 19, 25 | 98,385.09 | -56,513.52 | 41,871.57 | 0.57 |
| Jan 16, 26 | 6,109.9 | -29,291.3 | -23,181.4 | 4.79 |
| Apr 17, 26 | 0 | 0 | 0 | n/a |
| Dec 18, 26 | 0 | 0 | 0 | n/a |
| Jan 15, 27 | 11,729.67 | -15,954.49 | -4,224.82 | 1.36 |