ENVX max pain, gamma exposure (GEX) & options open interest
As of close · rank #267 by open interest · 1,238 sessions of history since Jul 15, 2021
ENVX's nearest-expiration max pain is 3.00 for 2026-10-09, net GEX is 5,076,073, its put/call open-interest ratio is 0.30. These are whole-chain derived aggregates as of Oct 2, 2026 close.
Whole-chain analytics
Derived after the close from the same dated options chain. Signed gamma exposure uses calls positive and puts negative; it is a model convention, not observed dealer inventory.
Advanced options analysis
Complete derived analysis from the dated chain, normalized where possible for comparison across tickers. Catalyst intensity measures unusual pricing and activity; it does not identify an event, predict direction, or establish that an investment is attractive.
Strongest relative signals: 25Δ risk reversal 24.6 pp
ENVX closed 44.5% below its gamma max of 4.05. It is 0.9% above the delta neutral price of 2.78. Total open interest is 366,356, -1.4% versus the previous session. Its options catalyst-intensity score is 36.7 out of 100, led by 25Δ risk reversal 24.6 pp. What gamma max means · What delta neutral means
Call versus put open interest changes
Growth compares outstanding contracts on each side. A positive growth gap favors calls; a negative gap favors puts. Standardized surprises compare each measure with its own prior history. These describe the OI balance, not IV skew or buying direction.
| Measure | Value |
|---|---|
| Call OI change, 1 session | -4,442 contracts · -1.6% |
| Put OI change, 1 session | -793 contracts · -0.9% |
| Call minus put OI growth, 1 session | -0.6 pp |
| Call OI change, 5 sessions | +23,551 contracts · +9.1% |
| Put OI change, 5 sessions | +2,784 contracts · +3.4% |
| Call minus put OI growth, 5 sessions | +5.8 pp |
| Daily call OI change surprise | -0.24σ (252 prior changes) |
| Daily put OI change surprise | -0.12σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.19σ (252 prior changes) |
History
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Analysis visualizations
Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.
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Gamma walls
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What followed prior gamma-max crosses?
Each historical path starts at 0% on the cross date and follows the close for ten subsequent trading sessions. Cohorts use the same direction as labelled and require gamma max to be within 10% of the close on both crossing sessions.
Crosses below gamma max 33 completed Day +10 paths · latest Jun 3, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 33 | +0.6% | -3.2% to +2.3% | 55% | -1.1% to +1.9% | 0.0% |
| Day +2 | 33 | -1.0% | -4.4% to +3.3% | 45% | -2.7% to +1.7% | 0.0% |
| Day +3 | 33 | +1.2% | -4.6% to +6.0% | 55% | -2.9% to +5.1% | 0.0% |
| Day +4 | 33 | +2.0% | -2.6% to +5.2% | 58% | -0.9% to +3.6% | 0.0% |
| Day +5 | 33 | +0.5% | -3.9% to +9.7% | 58% | -2.5% to +6.3% | 0.0% |
| Day +6 | 33 | +2.0% | -5.9% to +10.4% | 58% | -3.5% to +6.1% | 0.0% |
| Day +7 | 33 | +2.1% | -7.1% to +10.4% | 58% | -3.1% to +4.8% | 0.0% |
| Day +8 | 33 | +1.4% | -6.4% to +7.1% | 58% | -4.2% to +4.8% | 0.0% |
| Day +9 | 33 | +3.4% | -8.9% to +11.1% | 58% | -4.7% to +6.1% | 0.0% |
| Day +10 | 33 | +3.3% | -11.0% to +11.2% | 58% | -2.8% to +6.0% | 0.0% |
Crosses above gamma max 29 completed Day +10 paths · latest May 29, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 29 | +0.2% | -3.2% to +2.4% | 52% | -2.0% to +1.7% | 0.0% |
| Day +2 | 29 | +0.6% | -5.5% to +4.4% | 52% | -3.3% to +2.8% | 0.0% |
| Day +3 | 29 | -0.2% | -6.3% to +4.1% | 48% | -5.2% to +3.1% | 0.0% |
| Day +4 | 29 | +1.1% | -6.0% to +5.6% | 52% | -3.8% to +4.5% | 0.0% |
| Day +5 | 29 | +0.1% | -5.5% to +3.3% | 52% | -2.3% to +2.2% | 0.0% |
| Day +6 | 29 | -1.4% | -4.7% to +3.8% | 41% | -3.6% to +1.1% | 0.0% |
| Day +7 | 29 | -1.3% | -5.8% to +4.4% | 38% | -3.7% to +0.1% | 0.0% |
| Day +8 | 29 | +0.2% | -6.5% to +3.9% | 52% | -3.1% to +2.2% | 0.0% |
| Day +9 | 29 | -2.1% | -6.7% to +5.3% | 41% | -6.3% to +2.4% | 0.0% |
| Day +10 | 29 | -3.5% | -8.8% to +3.7% | 41% | -6.9% to +2.0% | 0.0% |
Returns are close-to-close after the labelled number of subsequent trading sessions. The confidence floor is the closest-to-zero bound of the order-statistic median interval; it is zero when that interval spans zero. Its coverage is nominally at least 90% under independent observations. Historical paths can overlap, so the interval and floor are descriptive uncertainty guides rather than formal coverage guarantees. Historical, not a forecast.
Last 252 sessions
| Sessions closed above gamma max | 6% |
| Gamma max crosses | 16 |
| Delta neutral crosses | 12 |
| Prior-year sessions closer to gamma max | 86.9% of 252 |
| Prior-year sessions closer to delta neutral | 2.0% of 252 |
| Open interest percentile (1y) | 69th |
| Daily open interest change versus prior year | -0.22σ (-5,235 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +7.7% |
| Open interest change, 21 sessions | +1.4% |
| History available | Jul 15, 2021 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 2.75 vs 2.41 (+12.4%)
- closed below delta neutral at 2.56 vs 2.82 (-10.6%)
- closed above delta neutral at 3.06 vs 2.95 (+3.5%)
- closed below delta neutral at 2.98 vs 2.99 (-0.3%)
- closed above delta neutral at 2.94 vs 2.69 (+8.5%)
- closed below delta neutral at 2.92 vs 2.99 (-2.5%)
- closed above delta neutral at 3.02 vs 2.79 (+7.6%)
- closed below delta neutral at 3.10 vs 3.15 (-1.6%)
- closed above delta neutral at 3.40 vs 3.23 (+4.9%)
- closed below delta neutral at 3.13 vs 3.27 (-4.3%)
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/ENVX
Questions people ask about ENVX
Where is ENVX's gamma max today?
As of Oct 2, 2026, the gamma max for ENVX is 4.05, +44.5% from the 2.80 close. Gamma max is the underlying price at which the summed gamma of every open contract is largest; how it is computed and why it matters.
Is ENVX above or below its delta neutral price?
ENVX closed above delta neutral: 2.80 against a delta neutral price of 2.78. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does ENVX have?
366,356 contracts of open interest across 176 listed contracts on Oct 2, 2026, -1.4% versus the previous session. What open interest measures.
Levels are recomputed after every trading day from licensed end-of-day options data; only derived aggregates are published. Methodology · Data and licence · Not investment advice.