Shift4 Payments Inc. (FOUR)

The total Delta Exposure (DEX) for FOUR across all expirations shows 732,886.72 net shares that market makers must hedge, with 979,326.23 from calls and 246,439.51 from puts. The put-call delta ratio of 0.25 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Jan 15, 27 with 261,022.04 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.