Vertex Pharmaceuticals (VRTX)
NASDAQ: VRTX
· Real-Time Price · USD
397.89
3.53 (0.90%)
At close: Aug 21, 2025, 1:46 PM
VRTX Delta Exposure By Expiry
The total Delta Exposure (DEX) for VRTX across all expirations shows 528,720.2 net shares that market makers must hedge, with 3,402,698.81 from calls and 2,873,978.61 from puts. The put-call delta ratio of 0.84 suggests neutral market maker positioning. The largest delta concentration at Jun 17, 27 with 501,571.93 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Aug 22, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
VRTX DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 22, 25 | 188,996.33 | -75,464.17 | 113,532.16 | 0.40 |
| Aug 29, 25 | 171,314.76 | -57,903.81 | 113,410.95 | 0.34 |
| Sep 5, 25 | 84,154.04 | -33,653.59 | 50,500.45 | 0.40 |
| Sep 12, 25 | 53,162.93 | -20,634.85 | 32,528.08 | 0.39 |
| Sep 19, 25 | 481,541.06 | -533,964.22 | -52,423.16 | 1.11 |
| Sep 26, 25 | 24,813.76 | -5,358.8 | 19,454.96 | 0.22 |
| Oct 17, 25 | 334,121.57 | -542,864.63 | -208,743.06 | 1.62 |
| Jan 16, 26 | 508,740.24 | -879,576.49 | -370,836.25 | 1.73 |
| Mar 20, 26 | 110,043.49 | -106,504.96 | 3,538.53 | 0.97 |
| Apr 17, 26 | 2,297.82 | -228.53 | 2,069.29 | 0.10 |
| Jun 18, 26 | 255,550.84 | -258,942.51 | -3,391.67 | 1.01 |
| Sep 18, 26 | 78,120.78 | -19,461.05 | 58,659.73 | 0.25 |
| Dec 18, 26 | 225,877.31 | -48,932.99 | 176,944.32 | 0.22 |
| Jan 15, 27 | 362,566.33 | -270,662.39 | 91,903.94 | 0.75 |
| Jun 17, 27 | 521,397.55 | -19,825.62 | 501,571.93 | 0.04 |