NGL Options History — April 2023

In April 2023, NGL traded between $2.74 and $3.20. ATM implied volatility averaged 60.4%, placing in the 4.7% IV rank vs the trailing year. The 30-day expected move averaged 17.4%. IV traded below realized volatility by 14.3% (HV 20d: 74.8%). Max pain ranged from $2.50 to $2.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.23.

Notable Days

  • 2023-04-04: Highest Volume — 1,779 contracts
  • 2023-04-25: Largest IV spike — 81.2% change
  • 2023-04-25: Highest IV Rank — 13.2%
  • 2023-04-25: Largest Expected Move — 24.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2.96$2.74$3.20$3.19$2.92
Max Pain$2.50$2.50$2.50$2.50$2.50
ATM IV60.4%43.5%84.8%53.5%46.9%
Expected Move17.4%12.5%24.3%15.3%13.5%
HV 20d74.8%48.1%92.9%92.1%49.5%
HV 60d101.6%100.7%103.2%102.5%101.7%
IV Rank4.7%0.0%13.2%2.1%1.1%
IV Percentile6.8%0.0%28.6%1.6%1.6%
Term Structure11.9%-19.2%40.6%-3.7%34.8%
VWIV60.4%36.0%84.6%54.3%43.7%
Bid-Ask Spread %24.0310.5359.2414.2717.17
Gamma HHI0.540.500.570.540.55
Net GEX37.5K33.9K40.6K36.1K39.3K
Net DEX-3.5M-4.1M-2.9M-3.9M-3.4M
Net VEX-18.5K-19.6K-17.4K-17.6K-18.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.230.001.380.790.01
Total Volume509401,779683363
Total OI31,006.89528,54333,38528,54329,684

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$3.19$2.5053.5%15.3%92.1%2.1%54.3%0.0%-3.7%36.1K-3.9M-17.6K0.7914.27N/AN/A38130224,8703,673
2023-04-04$3.20$2.5069.8%20.0%92.2%7.4%69.0%0.0%-19.2%33.9K-4.1M-18.8K0.0115.55N/AN/A1,7621725,1203,649
2023-04-05$3.07$2.5062.3%17.8%92.9%4.9%58.5%0.0%-15.6%37.7K-3.7M-17.9K0.0313.07N/AN/A1,1183426,5873,657
2023-04-06$3.04$2.5059.2%13.7%92.9%3.9%47.9%0.0%24.9%36.5K-3.7M-18.6K0.0614.48N/AN/A2801626,7153,688
2023-04-10$2.99$2.5082.0%21.4%90.2%11.3%74.5%0.0%2.2%38.6K-3.5M-18.4K0.1136.18N/AN/A1,49616926,8453,699
2023-04-11$2.96$2.5053.6%21.6%88.8%2.1%75.4%0.0%-9.4%36.4K-3.5M-18.6K0.0432.96N/AN/A2721127,9203,858
2023-04-12$2.96$2.5058.8%16.8%88.7%3.8%70.7%0.0%9.7%40.6K-3.3M-17.4K0.0559.24N/AN/A4342127,9463,863
2023-04-13$2.90$2.5073.7%21.1%81.4%8.6%73.7%0.0%2.4%36.9K-3.5M-18.9K0.0033.41N/AN/A216128,3433,883
2023-04-14$2.88$2.5065.2%18.7%80.9%5.9%62.5%0.0%17.8%36.2K-3.4M-18.8K0.0338.34N/AN/A4371328,5173,883
2023-04-17$2.90$2.5071.3%20.4%79.2%7.8%67.1%0.0%10.6%36.6K-3.4M-18.3K0.0136.92N/AN/A232228,7563,888
2023-04-18$2.92$2.5063.8%18.3%78.7%5.4%46.0%0.0%28.5%38.0K-3.4M-18.1K0.0136.86N/AN/A189228,9433,890
2023-04-19$2.98$2.5045.3%13.0%76.1%0.0%36.0%0.0%40.6%38.9K-3.7M-18.6K0.0013.74N/AN/A487129,0243,891
2023-04-20$2.98$2.5046.6%13.4%69.3%0.4%47.6%0.0%26.6%39.5K-3.7M-18.8K1.3814.13N/AN/A29240229,3103,892
2023-04-21$2.96$2.5043.5%12.5%61.5%0.0%0.0%0.0%35.4%38.0K-3.7M-19.6K0.8310.53N/AN/A12710629,2914,094
2023-04-24$2.95$2.5046.8%13.4%61.6%1.0%46.2%0.0%33.2%38.0K-3.4M-19.1K0.6015.08N/AN/A251525,8413,431
2023-04-25$2.77$2.5084.8%24.3%48.3%13.2%84.6%0.0%-3.7%37.3K-2.9M-18.3K0.1821.02N/AN/A2404325,8543,446
2023-04-26$2.74$2.5067.9%19.5%48.1%7.8%67.5%0.0%-0.0%37.1K-2.9M-18.2K0.1813.81N/AN/A881626,0573,489
2023-04-27$2.84$2.5053.2%15.2%48.5%3.1%61.6%0.0%11.3%37.6K-3.1M-18.7K0.0019.85N/AN/A61026,0893,545
2023-04-28$2.92$2.5046.9%13.5%49.5%1.1%43.7%0.0%34.8%39.3K-3.4M-18.6K0.0117.17N/AN/A361226,1393,545