NDLS Options History — August 2025

In August 2025, NDLS traded between $5.44 and $8.56. ATM implied volatility averaged 208.5%, placing in the 33.1% IV rank vs the trailing year. The 30-day expected move averaged 54.4%. IV traded above realized volatility by 96.9% (HV 20d: 111.6%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 3.96.

Notable Days

2025-08-21: Highest Volume — 34 contracts
2025-08-11: Largest IV drop — 58.1% change
2025-08-06: Highest IV Rank — 58.0%
2025-08-06: Largest Expected Move — 90.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.52	$5.44	$8.56	$6.80	$5.76
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	208.5%	114.9%	305.5%	211.3%	227.9%
Expected Move	54.4%	32.0%	90.1%	60.6%	65.3%
HV 20d	111.6%	66.1%	144.1%	66.1%	139.6%
HV 60d	96.8%	81.1%	107.9%	89.8%	103.8%
IV Rank	33.1%	10.2%	58.0%	34.4%	36.9%
IV Percentile	62.3%	11.9%	94.4%	69.8%	74.2%
Term Structure	-70.1%	-373.3%	18.8%	-97.8%	-67.6%
VWIV	193.8%	127.1%	232.4%	232.4%	198.5%
Bid-Ask Spread %	75.23	5.35	132.31	54.24	84.82
Gamma HHI	1.00	1.00	1.00	1.00	1.00
Net GEX	0	0	3	0	0
Net DEX	75.7K	35.9K	120.8K	35.9K	120.7K
Net VEX	-9	-12	-6	-11	-6
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.96	0.00	24.57	0.00	1.00
Total Volume	6.667	0	34	5	4
Total OI	1,099.476	691	1,515	1,413	757

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	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-08-01	$6.80	$20.00	211.3%	60.6%	66.1%	34.4%	0.0%	0.0%	-97.8%	0	35.9K	-11	0.00	54.24	N/A	N/A	5	0	1,360	53
2025-08-04	$7.36	$20.00	256.9%	54.2%	70.3%	45.8%	232.4%	0.0%	-146.4%	3	38.8K	-12	0.17	103.40	N/A	N/A	1	0	1,365	53
2025-08-05	$7.20	$20.00	236.2%	36.2%	69.2%	40.6%	0.0%	0.0%	-23.0%	0	38.1K	-11	0.00	84.08	N/A	N/A	7	0	1,366	53
2025-08-06	$7.28	$20.00	305.5%	90.1%	68.8%	58.0%	0.0%	0.0%	-373.3%	0	38.5K	-11	0.00	104.27	N/A	N/A	0	0	1,360	53
2025-08-07	$7.04	$20.00	269.3%	59.7%	68.1%	48.9%	0.0%	0.0%	-117.4%	0	37.3K	-11	0.00	132.31	N/A	N/A	1	0	1,360	53
2025-08-08	$7.44	$20.00	274.3%	32.0%	70.9%	50.2%	0.0%	0.0%	-24.9%	0	39.4K	-11	0.25	63.82	N/A	N/A	1	0	1,361	53
2025-08-11	$7.52	$20.00	114.9%	32.9%	70.8%	10.2%	0.0%	0.0%	-27.6%	0	39.8K	-11	0.00	118.29	N/A	N/A	0	0	1,362	53
2025-08-12	$8.56	$20.00	127.1%	36.4%	81.4%	13.2%	127.1%	0.0%	18.8%	0	45.3K	-11	0.00	121.04	N/A	N/A	11	0	1,362	53
2025-08-13	$8.16	$20.00	163.3%	46.8%	83.9%	22.3%	217.3%	0.0%	-27.5%	0	43.1K	-11	6.47	97.41	N/A	N/A	2	15	1,372	53
2025-08-14	$5.92	$20.00	208.3%	59.7%	143.1%	33.6%	0.0%	0.0%	0.0%	0	70.7K	-12	24.57	71.59	N/A	N/A	1	22	1,372	120
2025-08-15	$6.16	$20.00	225.7%	64.7%	144.1%	38.0%	0.0%	0.0%	0.0%	0	87.3K	-12	0.00	103.82	N/A	N/A	0	4	1,373	142
2025-08-18	$6.00	$20.00	173.2%	49.6%	143.0%	24.8%	0.0%	0.0%	-41.5%	0	86.8K	-6	15.00	55.73	N/A	N/A	1	9	546	145
2025-08-19	$5.76	$20.00	188.1%	53.9%	142.4%	28.5%	0.0%	0.0%	-44.4%	0	88.8K	-6	0.00	9.89	N/A	N/A	0	16	546	154
2025-08-20	$5.44	$20.00	185.1%	53.1%	138.6%	27.0%	0.0%	0.0%	-48.0%	0	92.7K	-6	0.00	6.23	N/A	N/A	0	0	546	170
2025-08-21	$5.68	$20.00	225.2%	64.6%	139.2%	37.2%	0.0%	0.0%	-48.3%	0	96.8K	-6	0.00	64.40	N/A	N/A	0	34	546	170
2025-08-22	$5.92	$20.00	165.5%	47.4%	140.6%	21.8%	0.0%	0.0%	-21.4%	0	120.8K	-6	0.00	69.50	N/A	N/A	0	0	546	204
2025-08-25	$5.76	$20.00	209.1%	59.9%	140.7%	32.7%	0.0%	0.0%	-56.2%	0	117.8K	-6	0.00	62.61	N/A	N/A	1	0	546	205
2025-08-26	$5.68	$20.00	191.5%	54.9%	140.5%	27.6%	198.5%	0.0%	-59.3%	0	116.2K	-6	1.00	5.35	N/A	N/A	0	0	547	205
2025-08-27	$5.84	$20.00	200.0%	57.4%	141.2%	29.8%	0.0%	0.0%	-60.8%	0	119.5K	-6	0.00	83.21	N/A	N/A	0	0	547	205
2025-08-28	$5.60	$20.00	219.4%	62.9%	141.0%	34.8%	0.0%	0.0%	-65.8%	0	114.6K	-6	0.00	83.74	N/A	N/A	0	5	547	205
2025-08-29	$5.76	$20.00	227.9%	65.3%	139.6%	36.9%	0.0%	0.0%	-67.6%	0	120.7K	-6	0.00	84.82	N/A	N/A	0	4	547	210