What is Put Delta? Put Delta is the sum of all put option delta for all available strikes. Why does Put Delta matter? A large put option delta implies there is a large options market maker hedge position. How to use Put Delta When a large amount of put delta expires options market makers may have to unwind corresponding short stock hedges. This could cause buying pressure in the stock. Related articles What is Gamma Flip? What is Call Delta? What is Put Gamma? What is Reference Price/Ref Price? What is Net Gamma?