NDLS Options History — April 2025

In April 2025, NDLS traded between $6.88 and $9.36. ATM implied volatility averaged 190.1%, placing in the 35.1% IV rank vs the trailing year. The 30-day expected move averaged 48.6%. IV traded above realized volatility by 115.4% (HV 20d: 74.7%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 2 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2025-04-23: Highest Volume — 51 contracts
2025-04-09: Largest IV drop — 59.0% change
2025-04-08: Highest IV Rank — 69.8%
2025-04-07: Largest Expected Move — 68.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.83	$6.88	$9.36	$8.72	$7.92
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	190.1%	135.8%	331.4%	171.9%	226.3%
Expected Move	48.6%	37.0%	68.7%	38.0%	64.9%
HV 20d	74.7%	62.5%	98.9%	94.7%	68.6%
HV 60d	97.6%	80.7%	114.0%	114.0%	80.7%
IV Rank	35.1%	21.8%	69.8%	30.7%	44.0%
IV Percentile	71.0%	47.2%	97.2%	68.7%	83.3%
Term Structure	-24.3%	-93.2%	217.4%	-4.9%	-93.2%
VWIV	165.2%	113.0%	211.3%	150.6%	211.3%
Bid-Ask Spread %	73.29	5.71	128.57	103.76	5.87
Gamma HHI	1.00	1.00	1.00	1.00	1.00
Net GEX	0	0	1	0	0
Net DEX	29.3K	26.0K	35.4K	33.0K	29.0K
Net VEX	-4	-5	-4	-5	-5
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	8.952	0	51	0	49
Total OI	559.857	524	651	542	651

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	Spread %	Call Wall	Put Wall	Call Vol	Call OI	Put OI
2025-04-01	$8.72	$20.00	171.9%	38.0%	94.7%	30.7%	150.6%	0.0%	-4.9%	0	33.0K	-5	103.76	N/A	N/A	0	504	38
2025-04-02	$9.36	$20.00	157.8%	39.1%	98.9%	27.2%	0.0%	0.0%	-45.2%	1	35.4K	-5	102.58	N/A	N/A	0	504	38
2025-04-03	$9.04	$20.00	209.5%	37.0%	95.9%	39.9%	113.0%	0.0%	-29.3%	1	34.2K	-5	84.90	N/A	N/A	6	504	38
2025-04-04	$9.04	$20.00	243.2%	42.2%	83.5%	48.2%	0.0%	0.0%	-30.3%	0	34.2K	-4	86.62	N/A	N/A	0	509	38
2025-04-07	$8.16	$20.00	260.0%	68.7%	89.6%	52.3%	0.0%	0.0%	-23.1%	0	30.9K	-4	128.57	N/A	N/A	0	509	38
2025-04-08	$7.52	$20.00	331.4%	44.4%	87.5%	69.8%	0.0%	0.0%	-66.1%	0	28.5K	-4	84.76	N/A	N/A	1	509	38
2025-04-09	$7.76	$20.00	135.8%	38.9%	88.9%	21.8%	0.0%	0.0%	-53.5%	0	29.4K	-4	82.77	N/A	N/A	0	510	38
2025-04-10	$7.60	$20.00	159.8%	45.8%	72.0%	27.7%	0.0%	0.0%	-56.2%	0	28.8K	-4	84.76	N/A	N/A	0	511	38
2025-04-11	$7.60	$20.00	162.0%	46.4%	65.8%	28.2%	0.0%	0.0%	-57.9%	0	28.8K	-4	83.60	N/A	N/A	0	511	38
2025-04-14	$7.52	$20.00	168.5%	48.3%	65.0%	29.8%	0.0%	0.0%	-64.3%	0	28.5K	-4	84.77	N/A	N/A	0	511	38
2025-04-15	$7.28	$20.00	168.3%	48.2%	62.5%	29.8%	0.0%	0.0%	-68.3%	0	27.6K	-4	83.43	N/A	N/A	0	511	38
2025-04-16	$6.88	$20.00	163.0%	46.7%	64.6%	28.5%	0.0%	0.0%	-71.6%	0	26.0K	-4	83.34	N/A	N/A	4	511	38
2025-04-17	$7.12	$20.00	155.1%	44.5%	66.1%	26.5%	0.0%	0.0%	-46.0%	0	26.9K	-4	83.43	N/A	N/A	0	514	38
2025-04-21	$7.12	$20.00	199.5%	57.2%	65.8%	37.4%	185.9%	0.0%	185.1%	0	26.1K	-4	6.68	N/A	N/A	1	487	37
2025-04-22	$7.20	$20.00	189.6%	54.3%	65.5%	35.0%	0.0%	0.0%	217.4%	0	26.4K	-4	5.71	N/A	N/A	1	489	37
2025-04-23	$7.44	$20.00	164.0%	47.0%	66.5%	28.7%	0.0%	0.0%	-34.0%	0	27.2K	-4	5.81	N/A	N/A	51	490	37
2025-04-24	$7.68	$20.00	172.5%	49.4%	66.3%	30.8%	0.0%	0.0%	-35.3%	0	28.1K	-5	82.70	N/A	N/A	1	540	37
2025-04-25	$7.84	$20.00	179.1%	51.3%	67.1%	32.4%	0.0%	0.0%	-37.1%	0	28.7K	-5	83.00	N/A	N/A	48	541	37
2025-04-28	$8.00	$20.00	180.0%	51.6%	67.1%	32.6%	0.0%	0.0%	-45.1%	0	29.3K	-5	83.58	N/A	N/A	10	589	37
2025-04-29	$7.68	$20.00	195.9%	56.2%	67.4%	36.6%	0.0%	0.0%	-50.6%	0	28.1K	-5	88.37	N/A	N/A	16	599	37
2025-04-30	$7.92	$20.00	226.3%	64.9%	68.6%	44.0%	211.3%	0.0%	-93.2%	0	29.0K	-5	5.87	N/A	N/A	49	614	37