EPDEnterprise Products Partners L.P.
Options Analysis Report•NATURAL GAS TRANSMISSION
Market Cap $79.3B|NYSE
● 2026-04-17$36.67
BULLISH
Analysis: 2026-04-16 EOD data
1Y +21.9%YTD +14.0%7D -1.8%
Options Vol
4,439
30D
Implied Move
±7.0%
IV Rank
48%
EPD Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 7.6% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.17x — IV premium over HV
Sector Relative≤50%
Sector percentile 2% — below sector median
Term Structure
<1.1xFront/Back 1.05x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 21.5% — normal range
Spread-Adjusted Value
<80%Effective IV 48.0% (ATM 21.5% + spread 13.3% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 19.19% (spread 13.26% + slippage 5.93%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.54 (vega 0.716 / spread 13.26%) — spread drag
Sentiment
Bullish or bearish?
6.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Strong signal (Conviction: -7%, Raw: -20%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -7% (neutral) — Raw: -20%
OI Skew Magnitude
≥15%|OI skew| 62.0% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +57.6%, OI skew +62.0% — aligned
Conviction Quality
≥2/3 conditions0-DTE 39%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -3%, ATM: -25%, OTM: -16% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 38% — bullish vs sector
Activity
Unusual activity?
3.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 1.8% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +4.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 45% — neutral vs sector
Trade Quality
≥30%Large trade volume 39% — institutional presence
Execution Urgency
≥60%Aggressive execution 23% — patient
Flow Conviction
≥30Conviction -7 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 13.3% — wide
Adequate OI
≥10,000OI 249,976 — deep
Active Volume
≥500Volume 4,439/day — adequate
Reasonable Cost
≤$0.50$0.66 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 46% — neutral vs sector
Order Book Depth
≥100 contractsDepth 501.9 contracts (bid:265.8 ask:236.1) — deep
Execution Quality
<1.0%Avg slippage 5.93% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +5.3% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 8% — buyer opportunity
Event Detection
≥10pts kinkIV kink -1.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 9.69 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -7% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 69 (ITM 20% + inst 39%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.9
bullishIV cheap, bullish flow
Long Puts5.5
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.0
bullishIV too cheap, bullish flow
Covered Call4.1
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.