Energy

Enbridge Inc. (ENB) options and signal

Figures as of 28 Sep 2026

ENB is Enbridge Inc., an Energy name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
IV rank	40 of 100	28 Sep
At the money IV	19.7%	28 Sep
Priced move to 16 Oct	4.9% down, 4.6% up	28 Sep
Call wall and put wall	50 and 47.5	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	46.97	28 Sep
Next report	6 Nov 2026	28 Sep

Options Snapshot

ENB's IV rank is 40 of 100 on 28 Sep 2026.

Figure	Value
IV rank	40 of 100
At the money IV	19.7%, near month, 18 days
Put/call ratio, open interest	0.39
Call open interest, strikes captured near the price	33,400 contracts
Put open interest, strikes captured near the price	13,000 contracts
Cost to trade at the money	Fair, 24.3% of the option's mid price

IV rank is where the at the money IV sits among ENB's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, ENB options priced a move of 4.9 percent down and 4.6 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	4.9%	4.6%	44.68 to 49.13
20 Nov 2026	53	9.5%	7.7%	42.50 to 50.59
18 Dec 2026	81	12.5%	9.7%	41.11 to 51.53
15 Jan 2027	109	12.2%	11.0%	41.23 to 52.12
16 Apr 2027	200	16.2%	15.9%	39.34 to 54.44

The range is one standard deviation either side of the close of 46.97, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, ENB's call wall is the 50 strike and its put wall is the 47.5 strike.

Figure	Value
Call wall, most open call gamma	50
Put wall, most open put gamma	47.5
Flip strike, where net gamma changes sign	48.97
Net dollar gamma, calls minus puts	$794,602
Total dollar gamma, both sides	$5.94 million
Close	46.97

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, ENB's at the money IV is 19.7 percent against 20 day realized volatility of 17.6 percent.

Figure	Value
At the money IV	19.7%
Realized volatility, 20 trading days	17.6%
Realized volatility, 60 trading days	18.4%
IV against its own weekly record	In the middle
Weekly readings on record	797, from 8 Jan 2010
Weeks the price moved more than the one week priced move	34.2% of 234 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Weather

On 28 Sep 2026, ENB's at the money IV runs from 19.7 percent at 18 days to 22.0 percent at 200 days.

Days to expiry	At the money IV
18	19.7%
53	22.3%
81	23.8%
109	21.4%
200	22.0%

Far expiries price more volatility than near ones, an upward sloping term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 53 day expiry, ENB's IV ten percent below the price sits 9.6 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	31.9%	+9.6 points
At the money	22.3%	0.0 points
10% above the price	30.6%	+8.3 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, ENB's surface spans 5 expiries out to 200 days, with IV from 19.1 to 46.1 percent near the price.

Figure	Value
Expiries captured	5
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	16 Apr 2027, 200 days
Points within 10% of the price, 7 days out or more	20
Lowest IV among them	19.1%
Highest IV among them	46.1%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, ENB has 5 captured expiries, from 16 Oct 2026 to 16 Apr 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	19.7%	6,527	4,830
20 Nov 2026	53	22.3%	8,430	1,881
18 Dec 2026	81	23.8%	307	277
15 Jan 2027	109	21.4%	17,241	5,117
16 Apr 2027	200	22.0%	877	895

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, ENB's largest open interest sits at the 50 strike, with 10,589 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
50	7,300	3,289	10,589
52.5	9,845	260	10,105
47.5	2,475	4,691	7,166
55	5,876	190	6,066
60	5,021	0	5,021
45	961	2,611	3,572

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, ENB's at the money IV moved from 20.2 percent to 19.7 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	20.2%	19.7%	-0.5 points
Open interest, strikes captured near the price	45,239	46,382	+1,143
Put/call ratio, open interest	0.42	0.39	-0.03

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Changed Hands

On 28 Sep 2026, 2,681 ENB option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	2,079
Puts traded	602
Against its recent average	1.0 times
Busier than	12 of its last 20 trading days
Open interest, whole chain	54,113 contracts
Volume to open interest	0.05
Unusual volume flag	No

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of ENB's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	51.57	$1.58 million	52.5	55
21 Sep 2026	48.20	$162,589	50	47.5
28 Sep 2026	46.97	$794,602	50	47.5

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of ENB was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	47.64, the swing high of 11 Sep 2026
Level below the close	46.48, the swing low of 25 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Bull call spread (buy a call spread)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 ENB sat at the 95th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	70 of 100	Neutral
20 trading days	79 of 100	Neutral
45 trading days	95 of 100	Bullish

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put ENB on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Bullish	1 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 ENB had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	95 of 100
24 Sep 2026	None	94 of 100
23 Sep 2026	None	94 of 100
22 Sep 2026	None	91 of 100
21 Sep 2026	None	62 of 100
18 Sep 2026	None	54 of 100
17 Sep 2026	None	51 of 100
16 Sep 2026	None	91 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Sector Split

On 25 Sep 2026, 17 of 56 Energy names were bullish and 33 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Energy	56	17	33	6

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Price Chart

ENB closed at 46.97 on 28 Sep 2026.

Figure	Value
Last close	46.97
Change over 5 trading days	-2.6%
Change over 21 trading days	-5.9%
Change over 63 trading days	-15.2%
Change over 252 trading days	-5.2%
52 week high	58.45
52 week low	45.03
20 day moving average	48.81
50 day moving average	51.11
200 day moving average	52.17
RSI, 14 days	30

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

ENB reports next on 6 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	6 Nov 2026, before the open
Date	Worked out from past quarters
Move after the report of 31 Jul 2026	-1.8%
Move after the report of 30 Apr 2026	-1.1%
Move after the report of 28 Jan 2026	+1.4%
Move after the report of 9 May 2025	+0.7%

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Company Events

ENB filed 1 current report in the 14 days to 28 Sep 2026, the latest on 14 Sep 2026.

Filed	Report	What it covers
14 Sep 2026	Current report	Other Events

Filings as of 28 Sep 2026. Current on every plan.

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Seasonality

In the 23 Septembers on record, ENB's average change was minus 0.1 percent, and it rose in 52.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.1%	+1.1%	52.2%	23
October	+1.8%	+1.9%	56.5%	23
November	+0.8%	+1.6%	65.2%	23

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Headlines

The desk's news feeds carried 2 headlines naming ENB in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	2
Latest	28 Sep 2026

The titles are in the Headlines window, with the time each was published.

Headlines as of 28 Sep 2026. Current on every plan.

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Questions

What is ENB's IV rank?: ENB's IV rank is 40 of 100 on 28 Sep 2026.
What move are ENB options pricing?: On 28 Sep 2026, ENB options priced a move of 4.9 percent down and 4.6 percent up by 16 Oct 2026.
Where are ENB's call wall and put wall?: On 28 Sep 2026, ENB's call wall is the 50 strike and its put wall is the 47.5 strike.
What was the desk's latest view of ENB on the Free plan?: On 25 Sep 2026 the desk's view of ENB was bullish, paper trading.
When does ENB report earnings next?: ENB reports next on 6 Nov 2026, a date worked out from past quarters.

More Energy names

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