Schwab Fundamental Emergi... (FNDE)

The total Delta Exposure (DEX) for FNDE across all expirations shows 943.22 net shares that market makers must hedge, with 959.06 from calls and 15.84 from puts. The put-call delta ratio of 0.02 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 610.27 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.