Synovus Financial Corp. (SNV)

The total Delta Exposure (DEX) for SNV across all expirations shows 156,920.88 net shares that market makers must hedge, with 241,001.74 from calls and 84,080.86 from puts. The put-call delta ratio of 0.35 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 99,141.36 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Aug 29, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.