NGL Options History — July 2020

In July 2020, NGL traded between $3.57 and $4.96. ATM implied volatility averaged 107.2%, placing in the 33.3% IV rank vs the trailing year. The 30-day expected move averaged 28.0%. IV traded below realized volatility by 4.0% (HV 20d: 111.2%). Max pain ranged from $5.00 to $7.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 0.87.

Notable Days

  • 2020-07-16: Highest Volume — 2,277 contracts
  • 2020-07-09: Largest IV spike — 72.8% change
  • 2020-07-14: Highest IV Rank — 56.5%
  • 2020-07-13: Largest Expected Move — 37.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.23$3.57$4.96$4.05$4.43
Max Pain$5.23$5.00$7.50$7.50$5.00
ATM IV107.2%82.5%169.2%97.5%95.2%
Expected Move28.0%20.7%37.1%27.9%27.3%
HV 20d111.2%94.9%125.9%122.7%97.1%
HV 60d123.8%105.1%137.6%137.5%105.5%
IV Rank33.3%24.1%56.5%29.7%28.8%
IV Percentile71.9%61.5%88.9%73.4%67.1%
Term Structure-9.3%-27.1%0.7%-8.9%-12.5%
VWIV95.8%83.4%111.5%91.1%95.0%
Skew 25d7.2%-45.1%39.1%-45.1%35.1%
Skew 10d10.7%-45.1%66.2%-45.1%60.3%
Call IV 25d92.5%63.4%149.3%149.3%68.3%
Put IV 25d99.7%71.5%115.1%104.2%103.4%
Bid-Ask Spread %42.0012.8482.0666.9922.06
Gamma HHI0.310.250.380.320.33
Net GEX4.0K1.4K6.8K1.5K5.8K
Net DEX3.0M-637.4K6.1M6.0M-65.7K
Net VEX-5.9K-7.6K-4.0K-4.5K-6.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.004.660.071.87
Total Volume625502,277598439
Total OI26,684.77313,11538,59235,03315,269

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$4.05$7.5097.5%27.9%122.7%29.7%0.0%-45.1%-8.9%1.5K6.0M-4.5K0.0766.99N/AN/A5574115,71119,322
2020-07-02$3.84$7.50101.5%29.1%123.2%31.2%0.0%-22.7%-6.9%2.0K5.7M-4.9K4.6674.09N/AN/A11051315,89219,318
2020-07-06$3.72$5.00120.3%29.6%116.5%38.2%91.1%12.6%-23.2%2.1K5.8M-4.3K0.4259.25N/AN/A52922415,89219,826
2020-07-07$3.68$5.00128.5%20.7%116.3%41.2%100.7%8.9%-4.4%2.1K5.7M-4.0K0.0482.06N/AN/A1,0304616,16119,833
2020-07-08$3.84$5.0082.5%30.3%118.4%24.1%105.3%7.8%-8.6%1.4K5.7M-4.9K1.2869.31N/AN/A28236216,57319,838
2020-07-09$3.64$5.00142.7%23.0%118.2%46.5%0.0%4.8%-8.8%3.6K5.7M-4.7K0.0672.74N/AN/A2791716,82120,277
2020-07-10$3.62$5.00141.8%32.2%104.0%46.2%0.0%3.4%-17.4%3.5K5.7M-4.5K0.3961.51N/AN/A33212816,87420,277
2020-07-13$3.57$5.00142.3%37.1%100.8%46.4%0.0%5.5%-27.1%4.2K5.5M-4.6K0.2358.93N/AN/A3859017,15820,182
2020-07-14$3.63$5.00169.2%32.5%101.3%56.5%0.0%14.1%-8.2%5.3K5.5M-4.3K0.0032.28N/AN/A322017,49720,244
2020-07-15$4.13$5.00111.5%32.0%114.4%34.9%111.5%12.7%-17.5%3.4K5.8M-5.6K0.7863.35N/AN/A36027917,76720,244
2020-07-16$4.60$5.00105.8%30.3%122.6%32.8%105.8%3.9%-12.4%2.5K6.1M-6.5K1.7513.77N/AN/A8291,44817,95620,260
2020-07-17$4.34$5.00109.2%31.3%123.7%34.0%111.4%17.9%-15.4%3.5K5.9M-6.6K0.7855.69N/AN/A68253118,30620,286
2020-07-20$4.34$5.0099.8%28.6%118.8%30.5%100.4%5.8%-4.1%2.5K-118.5K-6.3K0.2217.45N/AN/A237538,1434,972
2020-07-21$4.96$5.0089.5%25.7%121.9%26.7%89.4%26.7%-1.7%2.2K-637.4K-7.6K0.1215.10N/AN/A1,3081608,2535,006
2020-07-22$4.51$5.0090.8%26.0%125.9%27.2%90.9%11.0%-4.3%5.5K-295.3K-7.2K1.5712.84N/AN/A3064818,8415,136
2020-07-23$4.57$5.0091.1%26.1%116.4%27.3%91.2%-13.6%-5.8%5.8K-254.0K-7.1K0.2923.21N/AN/A82248,9985,591
2020-07-24$4.66$5.0092.3%26.4%100.9%27.7%92.3%10.7%-9.9%6.2K-354.2K-7.3K0.4617.08N/AN/A2631219,0475,614
2020-07-27$4.72$5.0091.7%26.3%95.7%27.5%91.7%13.3%-3.3%6.3K-440.2K-7.4K0.1016.40N/AN/A328349,0845,716
2020-07-28$4.77$5.0083.3%23.9%95.1%24.4%83.4%14.2%0.7%6.5K-442.2K-7.4K3.1714.95N/AN/A12389,1905,730
2020-07-29$4.91$5.0088.4%25.3%94.9%26.3%88.7%-7.1%-4.2%6.8K-553.4K-7.5K0.1451.65N/AN/A167239,1965,763
2020-07-30$4.60$5.0084.0%24.1%98.2%24.6%84.4%39.1%-0.3%6.0K-205.4K-6.9K0.7123.31N/AN/A1741249,2195,782
2020-07-31$4.43$5.0095.2%27.3%97.1%28.8%95.0%35.1%-12.5%5.8K-65.7K-6.5K1.8722.06N/AN/A1532869,3605,909