NDLS Options History — July 2025

In July 2025, NDLS traded between $5.68 and $8.32. ATM implied volatility averaged 210.8%, placing in the 34.2% IV rank vs the trailing year. The 30-day expected move averaged 55.9%. IV traded above realized volatility by 120.6% (HV 20d: 90.2%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 7 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 4.08.

Notable Days

2025-07-02: Highest Volume — 141 contracts
2025-07-09: Largest IV drop — 51.1% change
2025-07-08: Highest IV Rank — 56.8%
2025-07-30: Largest Expected Move — 82.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.07	$5.68	$8.32	$5.76	$7.36
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	210.8%	147.1%	300.7%	252.9%	242.3%
Expected Move	55.9%	42.2%	82.0%	72.5%	69.5%
HV 20d	90.2%	63.0%	99.5%	96.0%	63.5%
HV 60d	86.8%	85.3%	88.7%	86.8%	88.5%
IV Rank	34.2%	18.2%	56.8%	44.8%	42.1%
IV Percentile	66.7%	36.1%	93.7%	85.3%	80.2%
Term Structure	-5.1%	-402.0%	234.7%	-83.8%	-129.9%
VWIV	159.3%	159.3%	159.3%	159.3%	159.3%
Bid-Ask Spread %	78.12	54.36	104.52	84.34	56.90
Gamma HHI	1.00	1.00	1.00	1.00	1.00
Net GEX	36	0	356	0	356
Net DEX	5.9K	-83.1K	39.0K	11.2K	-21.4K
Net VEX	-57	-341	-9	-9	-341
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	4.08	0.00	50.00	0.05	0.00
Total Volume	20.591	0	141	3	0
Total OI	1,344.5	1,157	1,413	1,157	1,413

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
2025-07-01	$5.76	$20.00	252.9%	72.5%	96.0%	44.8%	0.0%	0.0%	-83.8%	0	11.2K	-9	0.05	84.34	N/A	N/A	3	0	1,137	20
2025-07-02	$5.68	$20.00	233.8%	67.0%	92.5%	40.0%	0.0%	0.0%	-89.9%	0	11.0K	-9	0.00	83.99	N/A	N/A	141	0	1,140	19
2025-07-03	$6.16	$20.00	254.4%	47.9%	96.8%	45.2%	159.3%	0.0%	-71.7%	0	12.0K	-10	0.00	84.59	N/A	N/A	1	0	1,276	20
2025-07-07	$6.40	$20.00	278.8%	42.8%	97.7%	51.3%	0.0%	0.0%	-45.5%	25	-4.1K	-54	0.00	83.90	N/A	N/A	0	0	1,277	20
2025-07-08	$6.72	$20.00	300.7%	48.9%	96.8%	56.8%	0.0%	0.0%	-75.1%	34	-3.5K	-62	0.00	85.33	N/A	N/A	3	0	1,277	20
2025-07-09	$6.88	$20.00	147.1%	42.2%	96.1%	18.2%	0.0%	0.0%	-45.6%	0	13.4K	-10	0.00	84.77	N/A	N/A	88	0	1,280	20
2025-07-10	$7.20	$20.00	181.9%	52.1%	96.0%	27.0%	0.0%	0.0%	-402.0%	12	14.2K	-13	0.00	104.52	N/A	N/A	1	0	1,321	20
2025-07-11	$7.20	$20.00	157.5%	45.1%	95.7%	20.8%	0.0%	0.0%	-91.3%	63	-45.2K	-122	0.00	83.43	N/A	N/A	0	0	1,321	20
2025-07-14	$7.12	$20.00	176.7%	50.7%	93.1%	25.7%	0.0%	0.0%	-83.2%	0	14.1K	-11	0.00	85.42	N/A	N/A	57	0	1,321	20
2025-07-15	$6.80	$20.00	211.3%	60.6%	93.7%	34.3%	0.0%	0.0%	-56.1%	0	13.4K	-11	50.00	90.78	N/A	N/A	0	6	1,378	20
2025-07-16	$6.96	$20.00	164.2%	47.1%	93.9%	22.5%	0.0%	0.0%	-57.0%	0	18.1K	-11	0.00	83.50	N/A	N/A	0	0	1,378	26
2025-07-17	$7.20	$20.00	186.4%	53.4%	93.7%	28.1%	0.0%	0.0%	0.0%	166	-69.1K	-247	0.00	84.30	N/A	N/A	0	0	1,378	26
2025-07-18	$7.12	$20.00	172.1%	49.3%	93.9%	24.5%	0.0%	0.0%	-47.7%	0	18.5K	-11	0.00	84.01	N/A	N/A	0	0	1,378	26
2025-07-21	$7.44	$20.00	172.3%	49.4%	94.2%	24.6%	0.0%	0.0%	-29.8%	0	19.2K	-11	0.00	84.08	N/A	N/A	46	0	1,315	26
2025-07-22	$7.68	$20.00	179.1%	51.3%	93.1%	26.3%	0.0%	0.0%	222.9%	0	19.8K	-11	0.00	84.59	N/A	N/A	0	0	1,314	26
2025-07-23	$8.32	$20.00	177.3%	50.8%	95.8%	25.8%	0.0%	0.0%	234.7%	142	-83.1K	-260	0.33	58.99	N/A	N/A	69	23	1,314	26
2025-07-24	$7.76	$20.00	173.8%	49.8%	99.5%	24.9%	0.0%	0.0%	111.9%	0	37.9K	-11	20.00	54.36	N/A	N/A	0	3	1,350	49
2025-07-25	$7.60	$20.00	204.6%	58.6%	98.3%	32.7%	0.0%	0.0%	227.0%	0	39.0K	-11	0.00	57.53	N/A	N/A	0	0	1,350	51
2025-07-28	$7.60	$20.00	240.4%	68.9%	77.4%	41.7%	0.0%	0.0%	39.6%	0	39.0K	-11	1.00	56.66	N/A	N/A	0	0	1,350	51
2025-07-29	$7.36	$20.00	244.6%	70.1%	63.0%	42.7%	0.0%	0.0%	197.5%	0	37.9K	-11	2.00	57.05	N/A	N/A	1	1	1,350	52
2025-07-30	$7.20	$20.00	285.9%	82.0%	64.1%	53.1%	0.0%	0.0%	168.7%	0	38.0K	-11	0.00	85.51	N/A	N/A	10	0	1,350	53
2025-07-31	$7.36	$20.00	242.3%	69.5%	63.5%	42.1%	0.0%	0.0%	-129.9%	356	-21.4K	-341	0.00	56.90	N/A	N/A	0	0	1,360	53