NDLS Options History — February 2020

In February 2020, NDLS traded between $56.96 and $69.60. ATM implied volatility averaged 66.4%, placing in the 23.1% IV rank vs the trailing year. The 30-day expected move averaged 20.9%. IV traded above realized volatility by 24.6% (HV 20d: 41.7%). Max pain ranged from $40.00 to $60.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 0.68.

Notable Days

  • 2020-02-25: Highest Volume — 631 contracts
  • 2020-02-12: Largest IV spike — 63.0% change
  • 2020-02-25: Highest IV Rank — 37.9%
  • 2020-02-25: Largest Expected Move — 26.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$64.96$56.96$69.60$56.96$63.52
Max Pain$56.84$40.00$60.00$40.00$60.00
ATM IV66.4%35.8%91.6%53.3%83.3%
Expected Move20.9%14.1%26.3%15.3%23.9%
HV 20d41.7%35.5%47.3%45.8%47.3%
HV 60d44.4%42.4%47.3%45.9%43.5%
IV Rank23.1%5.2%37.9%15.5%33.0%
IV Percentile54.0%2.4%88.9%35.7%82.1%
Term Structure-7.4%-24.5%23.0%23.0%-13.3%
VWIV72.8%49.1%91.3%53.9%82.8%
Skew 25d3.0%-7.8%10.8%9.8%-1.1%
Skew 10d19.4%-3.6%87.2%14.8%9.0%
Call IV 25d64.4%42.4%72.8%52.1%68.2%
Put IV 25d67.4%51.4%78.3%61.8%67.1%
Bid-Ask Spread %54.5815.9676.7462.4643.03
Gamma HHI0.630.480.890.520.88
Net GEX56.6K38.0K102.0K57.6K76.5K
Net DEX-2.9M-3.7M-2.3M-2.7M-2.5M
Net VEX-10.9K-12.0K-9.5K-12.0K-11.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.009.090.009.09
Total Volume91.15826311129
Total OI1,186.3168101,6861,2711,532

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-02-03$56.96$40.0053.3%15.3%45.8%15.5%0.0%9.8%23.0%57.6K-2.7M-12.0K0.0062.46N/AN/A1101,102169
2020-02-04$60.40$40.0053.9%15.5%43.5%15.8%53.9%10.8%10.1%67.2K-3.0M-12.0K0.0175.85N/AN/A30221,093169
2020-02-05$63.04$40.0049.2%14.1%41.9%13.1%49.1%9.0%20.9%62.1K-3.0M-11.1K0.8976.74N/AN/A1614974169
2020-02-06$63.60$60.0041.1%21.1%41.9%8.4%0.0%-3.9%-11.4%59.8K-3.0M-11.0K0.0145.15N/AN/A551961194
2020-02-07$63.04$60.0035.8%20.7%38.7%5.2%72.2%-0.9%-9.6%57.1K-2.8M-11.3K0.0063.44N/AN/A20963194
2020-02-10$61.52$60.0046.2%20.8%39.3%11.3%71.5%-7.8%-10.7%55.4K-2.6M-10.6K0.2147.47N/AN/A71963194
2020-02-11$62.48$60.0044.5%21.2%39.1%10.3%71.1%-5.1%-9.8%56.4K-2.8M-11.0K0.0744.04N/AN/A30963194
2020-02-12$65.52$60.0072.5%20.8%39.5%26.7%72.2%-2.3%-8.0%51.1K-3.3M-11.2K0.0445.32N/AN/A603962194
2020-02-13$65.68$60.0073.4%21.0%35.5%27.2%0.0%2.7%-8.1%49.4K-3.1M-10.7K0.6061.57N/AN/A32937195
2020-02-14$69.60$60.0069.9%20.0%39.4%25.2%68.6%6.2%-6.4%52.6K-3.7M-11.1K0.2157.87N/AN/A9019938196
2020-02-18$68.08$60.0082.4%23.6%41.2%32.5%84.7%10.1%-22.7%45.1K-3.2M-10.3K0.0366.17N/AN/A171911215
2020-02-19$68.88$60.0077.2%22.1%41.2%29.4%68.6%8.9%-11.1%40.7K-3.3M-10.5K0.0157.82N/AN/A190911216
2020-02-20$69.44$60.0077.4%22.2%41.2%29.6%78.9%9.4%-9.3%40.8K-3.4M-10.5K0.2163.58N/AN/A306908216
2020-02-21$69.44$60.0079.8%22.9%41.1%31.0%78.5%6.1%-17.5%40.4K-3.3M-10.1K0.0543.53N/AN/A352884219
2020-02-24$67.12$60.0079.0%22.7%43.6%30.5%79.1%9.3%-10.0%38.0K-2.3M-9.7K0.1550.24N/AN/A284683127
2020-02-25$65.68$60.0091.6%26.3%44.6%37.9%81.9%-1.1%-24.5%39.3K-2.3M-9.5K0.0159.38N/AN/A6265716130
2020-02-26$64.24$60.0090.3%25.9%44.0%37.1%91.3%-2.1%-21.3%83.8K-2.8M-11.9K0.2515.96N/AN/A196491,330132
2020-02-27$66.08$60.0059.8%17.1%44.3%19.3%60.4%-1.3%-1.9%102.0K-2.8M-11.4K1.0557.46N/AN/A46481,507179
2020-02-28$63.52$60.0083.3%23.9%47.3%33.0%82.8%-1.1%-13.3%76.5K-2.5M-11.7K9.0943.03N/AN/A3261,349183