NGL Options History — March 2017

In March 2017, NGL traded between $21.10 and $23.05. ATM implied volatility averaged 33.3%, placing in the 13.0% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 2.5% (HV 20d: 30.8%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 16 of 23 trading days. Term structure was in contango for 19 of 23 days. Put/call ratio averaged 1.24.

Notable Days

  • 2017-03-29: Highest Volume — 1,129 contracts
  • 2017-03-15: Largest IV drop — 42.8% change
  • 2017-03-14: Highest IV Rank — 44.8%
  • 2017-03-27: Largest Expected Move — 10.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.08$21.10$23.05$22.15$22.53
Max Pain$22.61$22.50$25.00$25.00$22.50
ATM IV33.3%27.5%54.3%33.4%29.5%
Expected Move9.1%8.2%10.2%9.6%8.5%
HV 20d30.8%25.6%33.5%32.1%33.4%
HV 60d33.0%32.1%34.4%32.9%34.4%
IV Rank13.0%4.7%44.8%10.7%8.0%
IV Percentile11.7%1.2%70.2%8.7%3.2%
Term Structure3.0%-2.4%8.2%-2.4%3.4%
VWIV34.6%30.2%38.8%34.6%38.8%
Skew 25d6.3%0.9%25.1%6.2%0.9%
Skew 10d11.8%-2.6%43.0%7.9%1.7%
Call IV 25d30.9%23.4%36.9%36.9%34.8%
Put IV 25d37.3%33.9%48.5%43.1%35.7%
Bid-Ask Spread %76.5643.6287.7879.8343.62
Gamma HHI0.510.320.700.460.59
Net GEX21.2K-601.6K300.8K111.1K276.4K
Net DEX1.2M-1.9M5.4M1.6M-1.4M
Net VEX-33.1K-44.7K-22.7K-42.7K-29.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.240.302.210.602.21
Total Volume900.5227151,129899842
Total OI18,993.8713,32723,41922,65513,909

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-03-01$22.15$25.0033.4%9.6%32.1%10.7%34.6%6.2%-2.4%111.1K1.6M-42.7K0.6079.83N/AN/A56233715,5857,070
2017-03-02$22.63$22.5032.1%9.2%33.4%10.0%32.2%21.7%-0.5%67.8K407.3K-44.7K0.6769.88N/AN/A55837615,6657,147
2017-03-03$22.70$22.5032.8%9.4%33.5%11.2%33.0%25.1%-0.3%73.0K201.5K-44.2K0.6771.69N/AN/A55336815,6667,270
2017-03-06$23.05$22.5034.6%9.2%33.0%13.5%31.8%4.9%1.3%155.9K-1.8M-44.4K0.3066.16N/AN/A76423115,6817,272
2017-03-07$23.00$22.5035.8%9.3%31.9%15.0%33.6%6.1%5.0%126.6K-1.1M-43.2K0.4165.82N/AN/A55122515,8017,270
2017-03-08$22.40$22.5035.4%9.2%28.6%14.5%32.6%5.3%3.5%-113.9K1.5M-39.4K0.5284.58N/AN/A52127115,8457,265
2017-03-09$21.95$22.5032.1%9.1%28.9%11.2%34.7%7.0%7.0%-160.8K3.9M-35.6K0.8780.89N/AN/A47941815,8177,248
2017-03-10$21.63$22.5027.5%9.2%28.4%4.7%36.5%4.0%5.2%-248.2K4.6M-35.0K1.2783.94N/AN/A32641515,8637,370
2017-03-13$21.75$22.5038.3%9.2%27.5%21.0%37.5%5.6%5.4%-217.9K4.9M-32.9K1.3484.64N/AN/A30941515,8537,421
2017-03-14$21.45$22.5054.3%9.3%25.6%44.8%34.9%3.4%5.7%-110.7K5.4M-31.1K0.8584.49N/AN/A45839015,8837,416
2017-03-15$22.45$22.5031.1%8.9%31.4%10.3%36.0%5.0%5.9%-601.6K2.8M-34.4K1.1887.78N/AN/A32838715,9637,413
2017-03-16$22.05$22.5030.8%8.8%31.5%9.9%35.2%4.0%6.6%-411.3K4.2M-30.7K1.1787.60N/AN/A32938616,0067,413
2017-03-17$22.60$22.5031.4%9.0%31.1%10.7%33.9%5.1%8.2%300.8K-1.9M-33.4K1.3177.11N/AN/A48063016,0077,403
2017-03-20$22.53$22.5031.4%9.0%31.0%10.8%36.4%6.7%1.4%297.2K-1.5M-32.0K2.0386.42N/AN/A3186448,8334,494
2017-03-21$22.20$22.5031.9%9.2%31.3%11.5%37.0%5.0%1.9%214.2K-335.5K-29.5K1.8583.33N/AN/A3266028,8334,532
2017-03-22$21.70$22.5033.2%9.5%32.0%13.5%35.2%2.0%-0.4%161.3K522.9K-27.4K1.9583.05N/AN/A3116068,8434,538
2017-03-23$21.65$22.5031.1%8.9%32.0%10.3%34.2%1.8%0.8%163.4K383.9K-27.2K1.3882.29N/AN/A4586328,8574,649
2017-03-24$21.73$22.5031.0%8.9%30.3%10.2%34.7%7.2%1.5%114.4K749.0K-26.0K2.1958.29N/AN/A2525529,0604,626
2017-03-27$21.18$22.5035.6%10.2%30.6%17.1%37.0%3.6%2.9%54.8K1.4M-24.2K1.8375.09N/AN/A3336099,0834,643
2017-03-28$21.10$22.5032.7%9.4%29.6%12.8%32.7%4.3%4.4%21.8K1.7M-22.7K1.5471.92N/AN/A3895989,0534,723
2017-03-29$21.73$22.5031.4%9.0%31.6%10.8%32.6%4.7%0.4%104.7K938.1K-25.0K1.0668.39N/AN/A5475828,9564,723
2017-03-30$21.73$22.5028.5%8.2%30.5%6.4%30.2%6.2%2.1%108.8K595.6K-25.6K1.2683.96N/AN/A4625829,1654,726
2017-03-31$22.53$22.5029.5%8.5%33.4%8.0%38.8%0.9%3.4%276.4K-1.4M-29.1K2.2143.62N/AN/A2625809,1874,722