EPD max pain, gamma exposure (GEX) & options open interest
As of close · rank #478 by open interest · 1,394 sessions of history since Dec 1, 2020
EPD's nearest-expiration max pain is 36.50 for 2026-10-09, its GEX flip is 27.30, net GEX is 13,884,649, 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 -134.8 pp · front IV premium 4.2 pp · smile convexity 10.0 pp
EPD closed 10.5% below its gamma max of 39.96. It is 6.8% above the delta neutral price of 33.71. Total open interest is 158,137, -3.2% versus the previous session. Its options catalyst-intensity score is 60.5 out of 100, led by 25Δ risk reversal -134.8 pp, front IV premium 4.2 pp, smile convexity 10.0 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 | -3,836 contracts · -3.1% |
| Put OI change, 1 session | -1,332 contracts · -3.5% |
| Call minus put OI growth, 1 session | +0.5 pp |
| Call OI change, 5 sessions | -1,313 contracts · -1.1% |
| Put OI change, 5 sessions | -1,156 contracts · -3.1% |
| Call minus put OI growth, 5 sessions | +2.0 pp |
| Daily call OI change surprise | -0.41σ (252 prior changes) |
| Daily put OI change surprise | -0.41σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.11σ (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 45 completed Day +10 paths · latest Mar 27, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 45 | +0.1% | -0.5% to +0.6% | 58% | -0.1% to +0.3% | 0.0% |
| Day +2 | 45 | +0.2% | -0.7% to +0.9% | 60% | -0.1% to +0.7% | 0.0% |
| Day +3 | 45 | +0.3% | -1.0% to +2.0% | 53% | -0.2% to +0.7% | 0.0% |
| Day +4 | 45 | +0.4% | -1.2% to +1.4% | 60% | -0.3% to +0.9% | 0.0% |
| Day +5 | 45 | +0.6% | -1.6% to +1.6% | 56% | -0.4% to +1.2% | 0.0% |
| Day +6 | 45 | +0.4% | -1.7% to +2.4% | 56% | -0.4% to +1.2% | 0.0% |
| Day +7 | 45 | -0.2% | -2.7% to +2.8% | 47% | -0.5% to +0.7% | 0.0% |
| Day +8 | 45 | +0.4% | -2.4% to +2.4% | 58% | -1.2% to +1.3% | 0.0% |
| Day +9 | 45 | +0.1% | -2.4% to +3.0% | 51% | -1.8% to +1.0% | 0.0% |
| Day +10 | 45 | -0.3% | -2.4% to +2.8% | 47% | -1.4% to +1.2% | 0.0% |
Crosses above gamma max 45 completed Day +10 paths · latest Mar 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 45 | +0.1% | -0.5% to +0.9% | 56% | -0.2% to +0.3% | 0.0% |
| Day +2 | 45 | +0.5% | -0.2% to +1.1% | 71% | +0.2% to +0.8% | +0.2% |
| Day +3 | 45 | +0.7% | -0.5% to +1.4% | 67% | +0.2% to +0.8% | +0.2% |
| Day +4 | 45 | +1.2% | -0.7% to +2.0% | 71% | +0.5% to +1.7% | +0.5% |
| Day +5 | 45 | +1.0% | -1.1% to +2.2% | 67% | +0.6% to +1.8% | +0.6% |
| Day +6 | 45 | +1.1% | -1.3% to +2.5% | 67% | +0.6% to +2.3% | +0.6% |
| Day +7 | 45 | +1.0% | -1.2% to +3.0% | 62% | -0.1% to +2.5% | 0.0% |
| Day +8 | 45 | +0.4% | -2.0% to +3.0% | 56% | -0.6% to +2.4% | 0.0% |
| Day +9 | 45 | +0.8% | -2.6% to +3.2% | 60% | -0.4% to +2.1% | 0.0% |
| Day +10 | 45 | +0.5% | -2.9% to +3.4% | 51% | -1.0% to +2.4% | 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 | 0 |
| Prior-year sessions closer to gamma max | 99.2% of 252 |
| Prior-year sessions closer to delta neutral | 28.2% of 252 |
| Open interest percentile (1y) | 1th |
| Daily open interest change versus prior year | -0.43σ (-5,168 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -1.5% |
| Open interest change, 21 sessions | -32.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 39.28 vs 39.58 (-0.8%)
- closed above gamma max at 38.39 vs 38.37 (+0.1%)
- closed below gamma max at 37.09 vs 37.13 (-0.1%)
- closed above gamma max at 37.57 vs 37.25 (+0.9%)
- closed below gamma max at 37.17 vs 37.58 (-1.1%)
- closed above gamma max at 36.14 vs 36.12 (+0.1%)
- closed below gamma max at 36.29 vs 36.74 (-1.2%)
- closed above gamma max at 36.35 vs 35.71 (+1.8%)
- closed below gamma max at 36.11 vs 36.84 (-2.0%)
- closed above gamma max at 37.21 vs 35.23 (+5.3%)
In today's screens
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Neighbours by open interest
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Share the dated 1600×840 image or cite this canonical page. The card contains public derived aggregates, not contract-level quotes.
Canonical source: https://halfonadouble.com/stock/EPD
Questions people ask about EPD
Where is EPD's gamma max today?
As of Oct 2, 2026, the gamma max for EPD is 39.96, +10.5% from the 36.18 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 EPD above or below its delta neutral price?
EPD closed above delta neutral: 36.18 against a delta neutral price of 33.71. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does EPD have?
158,137 contracts of open interest across 357 listed contracts on Oct 2, 2026, -3.2% 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.