(ISPY)
CBOE: ISPY
· Real-Time Price · USD
43.74
0.04 (0.09%)
At close: Aug 27, 2025, 10:27 AM
ISPY Delta Exposure By Expiry
The total Delta Exposure (DEX) for ISPY across all expirations shows 528.04 net shares that market makers must hedge, with 1,171.98 from calls and 643.94 from puts. The put-call delta ratio of 0.55 suggests neutral market maker positioning. The largest delta concentration at Dec 19, 25 with 399.41 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.
ISPY DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 473.93 | -77.19 | 396.74 | 0.16 |
| Oct 17, 25 | 18.06 | 0 | 18.06 | 0.00 |
| Dec 19, 25 | 679.99 | -280.58 | 399.41 | 0.41 |
| Mar 20, 26 | 0 | -286.17 | -286.17 | n/a |