# MPLX: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/MPLX
Data through: 2026-11-13 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 57.25 |
| Delta neutral (USD/share) | 56.04 |
| Gamma neutral (USD/share) | 56.54 |
| Gamma max (USD/share) | 62.30 |
| Open interest (contracts) | 104,096 |
| Nearest-expiration max pain (USD/share) | 60.00 (2026-11-20) |
| All-expiration max pain (USD/share) | 55.00 |
| Net gamma exposure | 4,127,400 |
| Confirmed GEX flip (USD/share) | 56.54 |
| Call wall (USD/share) | 60.00 |
| Put wall (USD/share) | 55.00 |
| Put/call open-interest ratio | 0.54 |
| Net GEX sign history | positive for the last 5 sessions; negative on 4 of the past 252 |
| Max pain expiration record (past 252 sessions) | expiration close nearer the prior-session max pain on 1 of 12 expirations (8%); median distance 4.37% vs 1.12% for an unchanged prior close |
| Options catalyst-intensity score (0–100) | 45.6 |
| Options directional score (-100 to +100) | -18.8 |
| IV rank | 2.4 |
| Front-minus-back IV | 12.5 pp |
| Front 25-delta risk reversal | 107.1 pp |
| Call OI change, 1 session | +551 contracts · +0.8% |
| Put OI change, 1 session | +24 contracts · +0.1% |
| Call minus put OI growth, 1 session | +0.8 pp |
| Call OI change, 5 sessions | +4,358 contracts · +6.9% |
| Put OI change, 5 sessions | -67 contracts · -0.2% |
| Call minus put OI growth, 5 sessions | +7.1 pp |
| Daily call OI change surprise | +0.13σ (252 prior changes) |
| Daily put OI change surprise | -0.01σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.14σ (252 prior changes) |
| Daily open interest change (contracts) | 575 |
| Daily open interest change z-score (prior 252) | +0.10σ (252 prior changes) |
| Gamma max distance from close | +8.8% |
| Delta neutral distance from close | -2.1% |
| Prior-year sessions closer to gamma max | 94.0% of 252 |
| Prior-year sessions closer to delta neutral | 4.8% of 252 |

## Recent expirations vs max pain

| Expiration | Max pain (session before) | Prior close | Expiration close | Close vs max pain | Nearer |
| --- | ---: | ---: | ---: | ---: | --- |
| 2026-10-16 | 55.00 | 57.12 | 58.16 | +5.53% | Prior close |
| 2026-09-18 | 60.00 | 58.62 | 59.44 | -0.96% | Max pain |
| 2026-08-21 | 60.00 | 58.60 | 58.41 | -2.71% | Prior close |
| 2026-07-17 | 55.00 | 57.17 | 57.06 | +3.60% | Prior close |
| 2026-06-18 | 55.00 | 55.92 | 56.75 | +3.13% | Prior close |
| 2026-05-15 | 60.00 | 55.57 | 54.77 | -9.41% | Prior close |
| 2026-04-17 | 55.00 | 55.24 | 55.88 | +1.59% | Prior close |
| 2026-03-20 | 55.00 | 58.28 | 57.99 | +5.13% | Prior close |
| 2026-02-20 | 55.00 | 57.28 | 58.19 | +5.57% | Prior close |
| 2026-01-16 | 50.00 | 55.97 | 56.58 | +11.76% | Prior close |

Each expiration compares the last session before it, when it was the nearest expiration, with the expiration-session close; distances are percentages of that prior close. Underlying closes are not option settlement values. Descriptive history, not a forecast.

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 37 | -0.1% | -0.5% to +0.3% | 41% | -0.3% to +0.1% | 0.0% |
| above | Day +3 | 37 | +0.1% | -1.1% to +0.9% | 51% | -0.5% to +0.6% | 0.0% |
| above | Day +5 | 37 | -0.0% | -2.0% to +1.4% | 49% | -1.2% to +0.7% | 0.0% |
| above | Day +10 | 37 | -0.2% | -2.0% to +1.6% | 43% | -1.6% to +1.2% | 0.0% |
| below | Day +1 | 37 | +0.1% | -0.5% to +0.6% | 59% | -0.1% to +0.4% | 0.0% |
| below | Day +3 | 37 | 0.0% | -1.1% to +0.7% | 49% | -0.6% to +0.5% | 0.0% |
| below | Day +5 | 37 | -0.7% | -1.5% to +0.8% | 38% | -1.2% to +0.4% | 0.0% |
| below | Day +10 | 37 | -0.3% | -2.2% to +1.8% | 46% | -1.1% to +0.5% | 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/MPLX.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/MPLX.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/MPLX.json?date=2026-11-13&public_schema=5)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; the 60-session close-versus-max-pain chart, full history and individual event paths are on the canonical page.

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