Brookfield Asset Manageme... (BAM)

The total Delta Exposure (DEX) for BAM across all expirations shows -110,422.89 net shares that market makers must hedge, with 218,638.7 from calls and 329,061.59 from puts. The put-call delta ratio of 1.51 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Sep 19, 25 with -226,582.85 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.