Apellis Pharmaceuticals I... (APLS)
NASDAQ: APLS
· Real-Time Price · USD
26.86
-0.49 (-1.79%)
At close: Aug 19, 2025, 1:50 PM
APLS Delta Exposure By Expiry
The total Delta Exposure (DEX) for APLS across all expirations shows 544,582.65 net shares that market makers must hedge, with 677,475.9 from calls and 132,893.25 from puts. The put-call delta ratio of 0.20 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Jan 16, 26 with 315,966.77 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.
APLS DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 48,657.63 | -33,233.99 | 15,423.64 | 0.68 |
| Oct 17, 25 | 152,374.24 | -6,817.57 | 145,556.67 | 0.04 |
| Jan 16, 26 | 394,301.15 | -78,334.38 | 315,966.77 | 0.20 |
| Apr 17, 26 | 0 | 0 | 0 | n/a |
| Jan 15, 27 | 82,142.88 | -14,507.31 | 67,635.57 | 0.18 |