G-III Apparel Group Ltd. (GIII)

The total Delta Exposure (DEX) for GIII across all expirations shows -5,923.04 net shares that market makers must hedge, with 25,928.96 from calls and 31,852 from puts. The put-call delta ratio of 1.23 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Dec 19, 25 with -17,332.38 net DEX represents significant hedging pressure that could fuel downside acceleration. The nearest expiration on Sep 19, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.