# ENPH: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/ENPH
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 33.47 |
| Delta neutral (USD/share) | 36.45 |
| Gamma neutral (USD/share) | 35.12 |
| Gamma max (USD/share) | 45.78 |
| Open interest (contracts) | 381,789 |
| Nearest-expiration max pain (USD/share) | 35.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 40.00 |
| Net gamma exposure | -2,653,786 |
| Confirmed GEX flip (USD/share) | 35.12 |
| Call wall (USD/share) | 40.00 |
| Put wall (USD/share) | 35.00 |
| Put/call open-interest ratio | 0.64 |
| Options catalyst-intensity score (0–100) | 48.3 |
| Options directional score (-100 to +100) | -9.1 |
| IV rank | 85.7 |
| Front ATM IV | +58.4% |
| Front-minus-back IV | -15.4 pp |
| Front expected move | +8.1% |
| Front ATM straddle / spot | +5.8% |
| Front 25-delta risk reversal | 2.3 pp |
| Call OI change, 1 session | -13,098 contracts · -5.3% |
| Put OI change, 1 session | -5,577 contracts · -3.6% |
| Call minus put OI growth, 1 session | -1.7 pp |
| Call OI change, 5 sessions | +5,249 contracts · +2.3% |
| Put OI change, 5 sessions | +2,630 contracts · +1.8% |
| Call minus put OI growth, 5 sessions | +0.5 pp |
| Daily call OI change surprise | -0.85σ (252 prior changes) |
| Daily put OI change surprise | -0.53σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.75σ (252 prior changes) |
| Daily open interest change (contracts) | -18,675 |
| Daily open interest change z-score (prior 252) | -0.73σ (252 prior changes) |
| Gamma max distance from close | +36.8% |
| Delta neutral distance from close | +8.9% |
| Prior-year sessions closer to gamma max | 63.5% of 252 |
| Prior-year sessions closer to delta neutral | 67.5% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 10 | +2.5% | -2.2% to +3.5% | 60% | -3.0% to +3.9% | 0.0% |
| above | Day +3 | 10 | +4.9% | -0.9% to +11.8% | 70% | -2.8% to +12.7% | 0.0% |
| above | Day +5 | 10 | +7.3% | +1.5% to +10.9% | 80% | -2.3% to +17.7% | 0.0% |
| above | Day +10 | 10 | +10.1% | +1.1% to +15.8% | 70% | -2.3% to +17.3% | 0.0% |
| below | Day +1 | 11 | -0.1% | -1.4% to +0.9% | 45% | -1.7% to +1.7% | 0.0% |
| below | Day +3 | 11 | +2.6% | +1.3% to +5.2% | 82% | +0.4% to +5.8% | +0.4% |
| below | Day +5 | 11 | +5.8% | -2.3% to +8.1% | 55% | -2.4% to +8.1% | 0.0% |
| below | Day +10 | 11 | +7.4% | +1.5% to +16.5% | 73% | -2.3% to +20.6% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/ENPH.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/ENPH.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/ENPH.json?date=2026-10-02)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).