NDLS Options History — April 2023

In April 2023, NDLS traded between $37.04 and $41.68. ATM implied volatility averaged 59.8%, placing in the 16.0% IV rank vs the trailing year. The 30-day expected move averaged 17.4%. IV traded above realized volatility by 10.2% (HV 20d: 49.6%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 6.14.

Notable Days

  • 2023-04-25: Highest Volume — 103 contracts
  • 2023-04-11: Largest IV spike — 31.1% change
  • 2023-04-25: Highest IV Rank — 22.5%
  • 2023-04-25: Largest Expected Move — 19.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$39.21$37.04$41.68$39.68$39.12
Max Pain$40.00$40.00$40.00$40.00$40.00
ATM IV59.8%48.3%68.7%50.8%65.3%
Expected Move17.4%13.8%19.7%14.6%18.7%
HV 20d49.6%42.5%61.7%61.7%45.1%
HV 60d48.0%46.6%49.8%47.9%46.6%
IV Rank16.0%7.7%22.5%9.5%20.0%
IV Percentile21.6%4.8%36.1%6.7%30.2%
Term Structure1.0%-8.5%15.2%15.2%-4.8%
VWIV68.9%50.8%94.2%50.8%65.3%
Skew 25d58.0%-8.5%151.1%16.1%-8.5%
Skew 10d98.8%24.5%230.6%24.5%66.7%
Call IV 25d69.9%57.2%94.7%62.4%94.7%
Put IV 25d127.8%78.5%222.3%78.5%86.2%
Bid-Ask Spread %57.7721.9597.1765.0983.00
Gamma HHI0.510.470.540.510.51
Net GEX-37.7K-47.4K-29.7K-36.0K-47.4K
Net DEX2.7M2.3M3.1M2.7M3.1M
Net VEX-14.7K-15.5K-13.4K-15.4K-14.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio6.140.0075.250.160.00
Total Volume19.4740103185
Total OI1,707.1051,6561,8751,6561,875

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$39.68$40.0050.8%14.6%61.7%9.5%50.8%16.1%15.2%-36.0K2.7M-15.4K0.1665.09N/AN/A1532421,414
2023-04-04$39.04$40.0054.9%15.8%61.4%12.5%0.0%108.2%9.4%-35.3K2.6M-15.0K0.0085.01N/AN/A302541,414
2023-04-05$37.76$40.0048.3%13.8%61.7%7.7%86.4%40.9%12.9%-33.8K2.7M-14.1K2.0074.38N/AN/A002571,414
2023-04-06$37.36$40.0056.5%17.6%52.4%13.6%94.2%121.8%0.4%-34.1K2.8M-13.9K0.0655.70N/AN/A1612551,414
2023-04-10$39.60$40.0050.4%18.9%56.8%9.2%0.0%47.7%-4.6%-34.8K2.6M-14.9K0.0048.07N/AN/A302591,414
2023-04-11$40.88$40.0066.2%18.6%49.0%20.6%0.0%33.3%-0.7%-36.0K2.4M-15.5K0.0021.95N/AN/A002621,414
2023-04-12$39.52$40.0065.4%18.7%47.2%20.1%58.1%151.1%-8.4%-36.2K2.6M-14.8K0.0071.71N/AN/A1302621,414
2023-04-13$41.68$40.0053.0%15.2%48.7%11.1%0.0%11.0%13.1%-37.5K2.6M-15.1K0.0047.59N/AN/A202631,414
2023-04-14$41.36$40.0053.1%15.2%48.0%11.2%0.0%-8.5%-0.5%-38.8K2.4M-15.5K0.0097.17N/AN/A302631,414
2023-04-17$40.72$40.0067.0%19.2%48.5%21.3%67.0%0.0%-2.3%-34.9K2.5M-15.2K0.0272.36N/AN/A3112661,414
2023-04-18$40.00$40.0055.6%15.9%49.1%13.0%0.0%0.0%-2.9%-29.7K2.3M-15.4K0.0069.66N/AN/A602631,415
2023-04-19$39.36$40.0066.1%18.9%49.1%20.6%66.1%0.0%-2.7%-33.6K2.6M-14.4K1.2022.39N/AN/A342691,415
2023-04-20$39.12$40.0051.7%14.8%46.3%10.2%0.0%0.0%14.7%-33.4K2.6M-14.6K0.0077.29N/AN/A002721,415
2023-04-21$39.04$40.0066.0%18.9%44.6%20.5%0.0%0.0%-2.8%-41.8K2.7M-13.8K0.0056.24N/AN/A0712721,415
2023-04-24$38.00$40.0066.6%19.1%42.5%20.9%66.7%0.0%-8.5%-42.4K2.7M-13.7K4.9325.55N/AN/A7342261,463
2023-04-25$37.12$40.0068.7%19.7%43.1%22.5%0.0%0.0%-7.4%-41.4K2.9M-13.4K14.6958.02N/AN/A7962331,493
2023-04-26$37.04$40.0065.8%18.9%42.6%20.4%0.0%0.0%-5.6%-42.5K3.0M-14.5K75.2528.02N/AN/A1382391,579
2023-04-27$38.64$40.0065.3%18.7%45.0%20.0%65.2%0.0%4.6%-46.5K3.1M-14.8K0.0038.46N/AN/A702391,629
2023-04-28$39.12$40.0065.3%18.7%45.1%20.0%65.3%0.0%-4.8%-47.4K3.1M-14.9K0.0083.00N/AN/A502461,629