BlackRock TCP Capital Cor... (TCPC)
NASDAQ: TCPC
· Real-Time Price · USD
7.14
0.08 (1.13%)
At close: Aug 19, 2025, 3:59 PM
7.19
0.63%
After-hours: Aug 19, 2025, 06:23 PM EDT
TCPC Delta Exposure By Expiry
The total Delta Exposure (DEX) for TCPC across all expirations shows -2,227.25 net shares that market makers must hedge, with 3,631.52 from calls and 5,858.77 from puts. The put-call delta ratio of 1.61 indicates defensive positioning with heavy put protection, which could accelerate downward moves if breached. The largest delta concentration at Nov 21, 25 with -4,386.16 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.
TCPC DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Sep 19, 25 | 84.25 | -80.97 | 3.28 | 0.96 |
| Oct 17, 25 | 0 | 0 | 0 | n/a |
| Nov 21, 25 | 1,271.32 | -5,657.48 | -4,386.16 | 4.45 |
| Jan 16, 26 | 1,681.68 | 0 | 1,681.68 | 0.00 |
| Feb 20, 26 | 594.27 | -120.32 | 473.95 | 0.20 |