Bausch Health Companies I... (BHC)
NYSE: BHC
· Real-Time Price · USD
7.59
0.01 (0.13%)
At close: Aug 21, 2025, 1:33 PM
BHC Delta Exposure By Expiry
The total Delta Exposure (DEX) for BHC across all expirations shows 69,340.28 net shares that market makers must hedge, with 183,655.92 from calls and 114,315.64 from puts. The put-call delta ratio of 0.62 suggests neutral market maker positioning. The largest delta concentration at Dec 17, 27 with -41,431.34 net DEX represents significant hedging pressure that could fuel downside acceleration. The nearest expiration on Aug 22, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
BHC DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 22, 25 | 5,471.88 | -761.22 | 4,710.66 | 0.14 |
| Aug 29, 25 | 4,181.39 | -635.44 | 3,545.95 | 0.15 |
| Sep 5, 25 | 3,066.58 | -566.32 | 2,500.26 | 0.18 |
| Sep 12, 25 | 2,174.36 | -1,693.1 | 481.26 | 0.78 |
| Sep 19, 25 | 12,464.62 | -2,158.14 | 10,306.48 | 0.17 |
| Sep 26, 25 | 1,285.46 | -54.12 | 1,231.34 | 0.04 |
| Oct 17, 25 | 26,385.57 | -14,121.93 | 12,263.64 | 0.54 |
| Dec 19, 25 | 27,269.01 | -22,487.6 | 4,781.41 | 0.82 |
| Jan 16, 26 | 43,965.24 | -11,448.3 | 32,516.94 | 0.26 |
| Apr 17, 26 | 1,425.71 | -262.66 | 1,163.05 | 0.18 |
| Jan 15, 27 | 42,239.31 | -4,968.68 | 37,270.63 | 0.12 |
| Dec 17, 27 | 13,726.79 | -55,158.13 | -41,431.34 | 4.02 |