NDLS Options History — May 2024

In May 2024, NDLS traded between $12.32 and $18.16. ATM implied volatility averaged 104.4%, placing in the 22.3% IV rank vs the trailing year. The 30-day expected move averaged 24.7%. IV traded below realized volatility by 2.0% (HV 20d: 106.4%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 1.77.

Notable Days

2024-05-09: Highest Volume — 25 contracts
2024-05-23: Largest IV spike — 195.0% change
2024-05-08: Highest IV Rank — 41.4%
2024-05-03: Largest Expected Move — 41.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.29	$12.32	$18.16	$12.48	$14.96
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	104.4%	47.9%	161.9%	135.3%	72.7%
Expected Move	24.7%	13.7%	41.0%	38.8%	20.8%
HV 20d	106.4%	79.6%	118.6%	85.8%	114.9%
HV 60d	82.5%	66.8%	90.0%	67.4%	90.0%
IV Rank	22.3%	3.5%	41.4%	32.6%	11.7%
IV Percentile	62.0%	2.0%	93.7%	87.7%	43.3%
Term Structure	-2.7%	-46.1%	37.8%	-43.4%	1.3%
VWIV	102.7%	38.6%	228.0%	107.0%	188.1%
Bid-Ask Spread %	76.39	12.06	123.00	58.36	103.71
Gamma HHI	0.99	0.95	1.00	0.99	0.99
Net GEX	1.2K	87	2.3K	87	1.1K
Net DEX	-26.7K	-66.0K	22.5K	22.5K	-43.9K
Net VEX	-271	-393	-42	-42	-309
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.77	0.00	26.00	0.00	0.11
Total Volume	6.591	0	25	0	1
Total OI	299.273	108	439	397	123

Daily Data (22 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
2024-05-01	$12.48	$20.00	135.3%	38.8%	85.8%	32.6%	0.0%	0.0%	-43.4%	87	22.5K	-42	0.00	58.36	N/A	N/A	0	0	375	22
2024-05-02	$12.48	$20.00	139.7%	40.1%	80.9%	34.0%	0.0%	0.0%	-46.1%	90	22.4K	-43	0.00	12.06	N/A	N/A	11	0	375	22
2024-05-03	$12.32	$20.00	143.1%	41.0%	79.6%	35.1%	0.0%	0.0%	-35.0%	349	17.4K	-88	0.00	59.04	N/A	N/A	9	0	389	22
2024-05-06	$14.00	$20.00	132.9%	20.7%	91.7%	31.8%	0.0%	0.0%	37.8%	530	3.3K	-170	0.00	59.95	N/A	N/A	0	0	390	22
2024-05-07	$14.32	$20.00	131.3%	19.8%	91.9%	31.3%	0.0%	0.0%	21.5%	830	4.5K	-180	0.00	59.43	N/A	N/A	13	0	390	22
2024-05-08	$14.00	$20.00	161.9%	26.6%	91.0%	41.4%	107.0%	0.0%	-28.1%	722	1.8K	-195	0.02	87.89	N/A	N/A	7	0	403	22
2024-05-09	$17.36	$20.00	96.2%	26.1%	116.8%	19.6%	76.6%	0.0%	-14.4%	1.8K	-28.3K	-331	0.00	121.45	N/A	N/A	25	0	408	22
2024-05-10	$16.48	$20.00	119.9%	18.7%	118.4%	27.5%	0.0%	0.0%	-9.8%	1.7K	-27.9K	-352	0.75	61.06	N/A	N/A	1	1	416	22
2024-05-13	$16.00	$20.00	151.6%	22.0%	117.8%	38.0%	0.0%	0.0%	-12.4%	1.5K	-20.4K	-315	0.00	60.33	N/A	N/A	1	0	417	21
2024-05-14	$18.16	$20.00	148.0%	21.4%	118.6%	36.7%	69.8%	0.0%	-9.8%	2.3K	-48.7K	-393	2.06	123.00	N/A	N/A	4	9	417	21
2024-05-15	$17.28	$20.00	60.0%	17.2%	115.8%	7.5%	38.6%	0.0%	32.7%	2.0K	-34.8K	-358	0.00	64.21	N/A	N/A	0	0	416	22
2024-05-16	$17.04	$20.00	69.6%	19.9%	111.6%	10.7%	0.0%	0.0%	0.0%	1.9K	-32.7K	-351	0.00	92.02	N/A	N/A	3	0	416	22
2024-05-17	$16.72	$20.00	69.9%	20.0%	112.5%	10.8%	0.0%	0.0%	-7.9%	1.7K	-41.5K	-353	26.00	88.80	N/A	N/A	1	16	417	22
2024-05-20	$16.96	$20.00	74.3%	21.3%	106.2%	12.3%	76.8%	0.0%	-13.6%	1.8K	-66.0K	-345	0.00	102.65	N/A	N/A	16	0	107	3
2024-05-21	$16.32	$20.00	127.0%	36.4%	107.9%	29.7%	84.3%	0.0%	-11.3%	1.5K	-58.5K	-316	0.00	100.73	N/A	N/A	25	0	105	3
2024-05-22	$15.84	$20.00	47.9%	13.7%	107.5%	3.5%	55.0%	0.0%	14.9%	1.6K	-51.9K	-347	2.00	58.36	N/A	N/A	0	0	118	3
2024-05-23	$14.48	$20.00	141.2%	40.5%	113.9%	34.4%	228.0%	0.0%	14.9%	833	-54.1K	-330	1.00	104.45	N/A	N/A	0	0	118	3
2024-05-24	$14.80	$20.00	61.8%	17.7%	113.8%	8.1%	0.0%	0.0%	14.4%	1.1K	-35.8K	-280	0.00	66.11	N/A	N/A	0	0	118	4
2024-05-28	$15.20	$20.00	69.8%	20.0%	113.5%	10.8%	0.0%	0.0%	12.8%	1.2K	-39.0K	-300	0.00	68.26	N/A	N/A	1	0	118	4
2024-05-29	$14.48	$20.00	73.0%	20.9%	115.0%	11.8%	0.0%	0.0%	12.1%	1.1K	-36.4K	-275	0.00	67.20	N/A	N/A	0	0	118	4
2024-05-30	$14.80	$20.00	69.5%	19.9%	115.0%	10.7%	0.0%	0.0%	11.6%	1.1K	-40.3K	-298	0.00	61.40	N/A	N/A	1	0	118	4
2024-05-31	$14.96	$20.00	72.7%	20.8%	114.9%	11.7%	188.1%	0.0%	1.3%	1.1K	-43.9K	-309	0.11	103.71	N/A	N/A	1	0	119	4