DLNG Options History — September 2025

In September 2025, DLNG traded between $3.65 and $3.91. ATM implied volatility averaged 82.6%, placing in the 18.6% IV rank vs the trailing year. The 30-day expected move averaged 19.8%. IV traded above realized volatility by 60.9% (HV 20d: 21.7%). Max pain ranged from $2.50 to $5.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.06.

Notable Days

2025-09-23: Highest Volume — 104 contracts
2025-09-05: Largest IV spike — 79.6% change
2025-09-05: Highest IV Rank — 65.7%
2025-09-03: Largest Expected Move — 37.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.77	$3.65	$3.91	$3.69	$3.65
Max Pain	$4.76	$2.50	$5.00	$2.50	$5.00
ATM IV	82.6%	37.5%	220.2%	124.8%	96.5%
Expected Move	19.8%	9.5%	37.8%	35.8%	27.7%
HV 20d	21.7%	19.0%	27.6%	27.6%	21.1%
HV 60d	23.1%	22.0%	23.8%	22.0%	23.6%
IV Rank	18.6%	3.1%	65.7%	33.0%	23.3%
IV Percentile	49.5%	10.3%	98.0%	76.2%	65.9%
Term Structure	25.4%	-91.3%	131.9%	-84.7%	72.7%
VWIV	94.0%	91.1%	103.3%	91.4%	103.3%
Bid-Ask Spread %	41.10	14.27	89.08	89.08	53.95
Gamma HHI	0.90	0.83	0.94	0.92	0.83
Net GEX	5.0K	4.3K	6.0K	4.5K	4.7K
Net DEX	-79.8K	-207.0K	52	-29.0K	-100.8K
Net VEX	-984	-1.3K	-805	-1.0K	-807
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.06	0.00	0.71	0.71	0.00
Total Volume	13.238	0	104	4	31
Total OI	2,341.524	2,168	2,449	2,370	2,282

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-09-02	$3.69	$2.50	124.8%	35.8%	27.6%	33.0%	91.4%	0.0%	-84.7%	4.5K	-29.0K	-1.0K	0.00	89.08	N/A	N/A	0	4	1,899	471
2025-09-03	$3.65	$2.50	131.9%	37.8%	20.6%	35.4%	91.1%	0.0%	-91.3%	4.3K	-38.0K	-1.0K	0.71	69.50	N/A	N/A	7	5	1,899	475
2025-09-04	$3.70	$5.00	122.6%	16.3%	21.2%	32.3%	0.0%	0.0%	-2.3%	4.5K	52	-810	0.00	32.66	N/A	N/A	14	0	1,907	479
2025-09-05	$3.75	$5.00	220.2%	21.8%	21.0%	65.7%	92.4%	0.0%	-52.7%	4.8K	-12.4K	-857	0.04	24.00	N/A	N/A	24	1	1,918	479
2025-09-08	$3.84	$5.00	68.7%	9.5%	21.8%	13.8%	91.8%	0.0%	11.7%	5.4K	-28.7K	-961	0.18	14.27	N/A	N/A	11	2	1,937	480
2025-09-09	$3.77	$5.00	79.9%	11.9%	22.5%	17.6%	0.0%	0.0%	18.6%	5.0K	-56.4K	-1.1K	0.00	54.90	N/A	N/A	0	1	1,944	480
2025-09-10	$3.83	$5.00	37.5%	10.8%	22.7%	3.1%	0.0%	0.0%	7.5%	5.3K	-19.2K	-925	0.00	50.90	N/A	N/A	19	0	1,944	479
2025-09-11	$3.83	$5.00	41.6%	11.9%	22.6%	4.5%	0.0%	0.0%	10.9%	5.4K	-31.6K	-919	0.00	45.73	N/A	N/A	12	0	1,953	479
2025-09-12	$3.85	$5.00	39.5%	11.3%	22.5%	3.8%	0.0%	0.0%	13.9%	5.5K	-41.8K	-987	0.00	47.74	N/A	N/A	3	0	1,963	479
2025-09-15	$3.85	$5.00	41.2%	11.8%	19.4%	4.4%	0.0%	0.0%	29.3%	5.3K	-111.4K	-1.3K	0.00	44.83	N/A	N/A	3	0	1,967	479
2025-09-16	$3.82	$5.00	44.3%	12.7%	19.7%	5.4%	0.0%	0.0%	15.5%	5.4K	-55.3K	-1.1K	0.00	19.60	N/A	N/A	2	0	1,970	479
2025-09-17	$3.86	$5.00	53.1%	15.2%	19.4%	8.5%	0.0%	0.0%	15.4%	6.0K	-118.9K	-1.1K	0.00	29.93	N/A	N/A	2	0	1,972	323
2025-09-18	$3.91	$5.00	52.3%	15.0%	19.0%	8.2%	0.0%	0.0%	131.9%	5.0K	-207.0K	-1.3K	0.00	31.93	N/A	N/A	0	0	1,970	323
2025-09-19	$3.81	$5.00	49.9%	14.3%	21.4%	7.3%	0.0%	0.0%	68.3%	4.8K	-142.0K	-1.1K	0.00	23.36	N/A	N/A	5	0	1,970	323
2025-09-22	$3.78	$5.00	51.4%	14.7%	21.7%	7.9%	0.0%	0.0%	107.2%	4.8K	-131.5K	-1.0K	0.00	45.84	N/A	N/A	5	0	1,935	233
2025-09-23	$3.73	$5.00	86.1%	24.7%	22.3%	19.8%	94.0%	0.0%	96.3%	4.6K	-128.3K	-1.0K	0.00	23.96	N/A	N/A	104	0	1,940	233
2025-09-24	$3.75	$5.00	92.2%	26.4%	22.3%	21.8%	0.0%	0.0%	-5.9%	5.2K	-108.0K	-822	0.00	26.28	N/A	N/A	9	0	2,040	233
2025-09-25	$3.74	$5.00	95.1%	27.3%	21.9%	22.8%	0.0%	0.0%	70.3%	5.1K	-105.8K	-831	0.00	52.47	N/A	N/A	12	0	2,038	233
2025-09-26	$3.75	$5.00	96.5%	27.7%	21.9%	23.3%	0.0%	0.0%	63.3%	5.2K	-107.0K	-826	0.00	54.59	N/A	N/A	0	0	2,049	233
2025-09-29	$3.68	$5.00	110.3%	31.6%	23.1%	28.0%	0.0%	0.0%	38.7%	4.8K	-103.0K	-805	0.00	27.64	N/A	N/A	2	0	2,049	233
2025-09-30	$3.65	$5.00	96.5%	27.7%	21.1%	23.3%	103.3%	0.0%	72.7%	4.7K	-100.8K	-807	0.00	53.95	N/A	N/A	31	0	2,049	233