Papa John's International... (PZZA)
NASDAQ: PZZA
· Real-Time Price · USD
46.25
0.38 (0.83%)
At close: Aug 19, 2025, 1:59 PM
PZZA Delta Exposure By Expiry
The total Delta Exposure (DEX) for PZZA across all expirations shows 202,483.37 net shares that market makers must hedge, with 350,065.8 from calls and 147,582.43 from puts. The put-call delta ratio of 0.42 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Jan 16, 26 with 60,227.5 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.
PZZA DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 77,243.5 | -55,280.05 | 21,963.45 | 0.72 |
| Oct 17, 25 | 76,375.89 | -24,897.25 | 51,478.64 | 0.33 |
| Jan 16, 26 | 111,027.23 | -50,799.73 | 60,227.5 | 0.46 |
| Apr 17, 26 | 0 | -68.55 | -68.55 | n/a |
| Jun 18, 26 | 8,906.8 | -4,035.95 | 4,870.85 | 0.45 |
| Sep 18, 26 | 0 | 0 | 0 | n/a |
| Dec 18, 26 | 52,112.48 | -7,948.45 | 44,164.03 | 0.15 |
| Jan 15, 27 | 24,399.9 | -4,552.45 | 19,847.45 | 0.19 |