Allegro MicroSystems Inc. (ALGM)

The total Delta Exposure (DEX) for ALGM across all expirations shows -5,697.94 net shares that market makers must hedge, with 88,426.65 from calls and 94,124.59 from puts. The put-call delta ratio of 1.06 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Oct 17, 25 with -45,257.28 net DEX represents significant hedging pressure that could fuel downside acceleration. The nearest expiration on Sep 19, 25 carries negative delta forcing market makers to buy shares, potentially providing support.