Hershey (HSY)
NYSE: HSY
· Real-Time Price · USD
185.31
1.56 (0.85%)
At close: Sep 02, 2025, 2:24 PM
HSY Delta Exposure By Expiry
The total Delta Exposure (DEX) for HSY across all expirations shows 1,283,703.5 net shares that market makers must hedge, with 2,027,801.6 from calls and 744,098.1 from puts. The put-call delta ratio of 0.37 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Sep 19, 25 with 549,396.36 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Sep 5, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
HSY DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 5, 25 | 27,920.03 | -20,227.41 | 7,692.62 | 0.72 |
| Sep 12, 25 | 13,674.82 | -2,750.54 | 10,924.28 | 0.20 |
| Sep 19, 25 | 668,695.38 | -119,299.02 | 549,396.36 | 0.18 |
| Sep 26, 25 | 30,495.35 | -4,162.19 | 26,333.16 | 0.14 |
| Oct 3, 25 | 728.61 | -81.73 | 646.88 | 0.11 |
| Oct 10, 25 | 0 | -69.57 | -69.57 | n/a |
| Oct 17, 25 | 34,230.12 | -10,047.11 | 24,183.01 | 0.29 |
| Nov 21, 25 | 328,503.44 | -157,381.07 | 171,122.37 | 0.48 |
| Jan 16, 26 | 641,901.58 | -277,765.62 | 364,135.96 | 0.43 |
| Feb 20, 26 | 20,399.75 | -6,278.36 | 14,121.39 | 0.31 |
| Mar 20, 26 | 61,233.15 | -30,555.59 | 30,677.56 | 0.50 |
| Jun 18, 26 | 53,146.56 | -31,903.02 | 21,243.54 | 0.60 |
| Sep 18, 26 | 13,377.78 | -5,102.41 | 8,275.37 | 0.38 |
| Jan 15, 27 | 133,495.03 | -78,474.46 | 55,020.57 | 0.59 |