NDLS Options History — September 2025

In September 2025, NDLS traded between $4.72 and $5.60. ATM implied volatility averaged 239.8%, placing in the 40.0% IV rank vs the trailing year. The 30-day expected move averaged 59.6%. IV traded above realized volatility by 164.0% (HV 20d: 75.7%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 0.76.

Notable Days

  • 2025-09-15: Highest Volume — 40 contracts
  • 2025-09-10: Largest IV drop — 54.4% change
  • 2025-09-05: Highest IV Rank — 80.4%
  • 2025-09-30: Largest Expected Move — 74.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.19$4.72$5.60$5.60$5.12
Max Pain$20.00$20.00$20.00$20.00$20.00
ATM IV239.8%180.2%396.6%249.2%261.0%
Expected Move59.6%44.5%74.8%71.4%74.8%
HV 20d75.7%34.3%136.3%135.8%40.3%
HV 60d99.3%90.8%103.9%103.9%90.8%
IV Rank40.0%24.7%80.4%42.4%45.5%
IV Percentile70.6%46.4%98.0%82.1%86.1%
Term Structure-64.3%-101.5%-36.8%-85.6%-101.5%
Bid-Ask Spread %80.9753.3687.9983.7482.35
Gamma HHI1.001.001.001.001.00
Net GEX00000
Net DEX117.9K107.6K124.1K119.5K116.7K
Net VEX-7-7-6-6-7
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.005.005.000.00
Total Volume4.52404000
Total OI813.524760848760841

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$5.60$20.00249.2%71.4%135.8%42.4%0.0%0.0%-85.6%0119.5K-60.0083.74N/AN/A00547213
2025-09-03$5.36$20.00249.7%71.6%136.2%42.6%0.0%0.0%-93.8%0114.4K-65.0053.36N/AN/A01547213
2025-09-04$5.44$0.00260.4%44.5%136.3%45.3%0.0%0.0%-36.8%0115.7K-60.0083.74N/AN/A016547213
2025-09-05$5.36$0.00396.6%49.0%136.1%80.4%0.0%0.0%-38.2%0122.7K-60.0084.42N/AN/A00547229
2025-09-08$5.28$0.00296.8%50.5%133.7%54.7%0.0%0.0%-42.0%0120.9K-60.8783.83N/AN/A33547229
2025-09-09$5.36$0.00395.7%51.5%133.8%80.2%0.0%0.0%-42.8%0124.1K-60.0084.13N/AN/A00550232
2025-09-10$5.28$0.00180.7%51.8%122.1%24.8%0.0%0.0%-44.6%0122.2K-60.0454.96N/AN/A151550232
2025-09-11$5.20$0.00181.8%52.1%121.9%25.1%0.0%0.0%-46.5%0120.3K-60.0087.99N/AN/A00564231
2025-09-12$5.20$0.00184.3%52.8%49.2%25.7%0.0%0.0%-47.9%0120.3K-70.0084.42N/AN/A30583231
2025-09-15$5.36$0.00195.3%56.0%48.2%28.6%0.0%0.0%-51.7%0123.7K-70.0083.66N/AN/A400586231
2025-09-16$5.36$0.00180.2%51.7%47.7%24.7%0.0%0.0%-53.5%0123.7K-70.0083.16N/AN/A80607231
2025-09-17$5.28$0.00200.2%57.4%46.0%29.8%0.0%0.0%-56.1%0121.9K-70.0084.42N/AN/A00613231
2025-09-18$5.28$0.00184.0%52.7%41.5%25.6%0.0%0.0%-58.1%0121.9K-71.5082.98N/AN/A12614231
2025-09-19$5.04$20.00202.2%58.0%40.9%30.3%0.0%0.0%-62.3%0117.3K-70.0083.09N/AN/A20615233
2025-09-22$4.96$20.00211.7%60.7%37.0%32.8%0.0%0.0%-70.9%0112.9K-70.0083.09N/AN/A00613228
2025-09-23$4.96$20.00216.0%61.9%36.5%33.9%0.0%0.0%-73.9%0112.9K-71.0082.64N/AN/A00613228
2025-09-24$4.88$20.00241.4%69.2%36.5%40.4%0.0%0.0%-78.1%0111.2K-70.0083.59N/AN/A00613228
2025-09-25$4.72$20.00243.3%69.7%35.1%40.9%0.0%0.0%-83.5%0107.6K-70.0083.59N/AN/A00613228
2025-09-26$4.80$20.00250.8%71.9%34.3%42.8%0.0%0.0%-86.5%0109.4K-70.0083.59N/AN/A00613228
2025-09-29$5.12$20.00253.7%72.7%41.1%43.6%0.0%0.0%-96.1%0116.7K-70.0083.56N/AN/A00613228
2025-09-30$5.12$20.00261.0%74.8%40.3%45.5%0.0%0.0%-101.5%0116.7K-70.0082.35N/AN/A00613228