NGL Options History — May 2023

In May 2023, NGL traded between $2.67 and $3.16. ATM implied volatility averaged 69.2%, placing in the 8.2% IV rank vs the trailing year. The 30-day expected move averaged 20.4%. IV traded above realized volatility by 30.0% (HV 20d: 39.1%). Max pain ranged from $2.50 to $2.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.22.

Notable Days

  • 2023-05-30: Highest Volume — 876 contracts
  • 2023-05-05: Largest IV spike — 64.7% change
  • 2023-05-24: Highest IV Rank — 18.0%
  • 2023-05-24: Largest Expected Move — 28.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2.92$2.67$3.16$2.91$3.13
Max Pain$2.50$2.50$2.50$2.50$2.50
ATM IV69.2%44.8%100.0%51.6%91.3%
Expected Move20.4%12.9%28.7%14.8%26.2%
HV 20d39.1%34.9%49.5%49.5%36.1%
HV 60d80.6%60.5%102.0%101.7%60.5%
IV Rank8.2%0.4%18.0%2.6%15.2%
IV Percentile16.9%0.4%46.8%2.4%39.3%
Term Structure3.0%-31.0%43.0%13.5%23.3%
VWIV73.8%41.3%98.6%49.6%94.5%
Bid-Ask Spread %35.7811.5281.3517.0512.40
Gamma HHI0.550.470.630.580.51
Net GEX37.7K25.5K42.6K40.8K40.7K
Net DEX-3.3M-4.1M-2.7M-3.2M-3.8M
Net VEX-17.2K-18.6K-14.6K-17.5K-17.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.220.001.410.001.41
Total Volume1931187624546
Total OI29,865.31828,98230,33130,08029,162

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$2.91$2.5051.6%14.8%49.5%2.6%49.6%0.0%13.5%40.8K-3.2M-17.5K0.0017.05N/AN/A24026,5333,547
2023-05-02$2.83$2.5045.5%13.0%35.4%0.6%41.3%0.0%43.0%38.4K-3.1M-18.6K0.0117.83N/AN/A138126,5153,547
2023-05-03$2.76$2.5045.0%12.9%35.8%0.5%0.0%0.0%31.3%38.7K-3.0M-18.0K0.4826.49N/AN/A211026,5793,548
2023-05-04$2.67$2.5044.8%17.4%34.9%0.4%71.7%0.0%17.2%40.2K-2.7M-17.5K0.2681.35N/AN/A2727126,5913,558
2023-05-05$2.75$2.5073.8%23.5%37.2%9.7%72.3%0.0%-4.7%36.0K-2.9M-17.8K0.1473.07N/AN/A1502126,5553,621
2023-05-08$2.75$2.5055.1%21.4%37.0%3.7%73.1%0.0%-4.0%39.2K-2.9M-17.8K0.0248.65N/AN/A65126,6403,633
2023-05-09$2.77$2.5064.4%17.7%37.1%6.7%0.0%0.0%-4.2%38.7K-3.0M-17.5K0.0064.88N/AN/A72026,6183,634
2023-05-10$2.76$2.5084.9%24.3%37.1%13.2%78.1%0.0%-11.2%38.7K-3.0M-17.8K0.3939.85N/AN/A411626,6713,634
2023-05-11$2.75$2.5051.0%14.6%36.6%2.4%48.0%0.0%16.4%39.7K-2.9M-17.3K0.3171.58N/AN/A802526,6623,634
2023-05-12$2.80$2.5074.6%21.4%37.2%9.9%0.0%0.0%1.3%39.4K-3.0M-17.8K0.4744.36N/AN/A17826,6353,649
2023-05-15$2.90$2.5048.1%13.8%39.4%1.5%77.4%0.0%34.4%39.0K-3.2M-17.5K0.2264.66N/AN/A9226,6243,649
2023-05-16$2.83$2.5066.8%19.2%40.2%7.4%77.8%0.0%-2.2%38.6K-3.1M-17.4K0.5861.62N/AN/A17210026,6353,649
2023-05-17$2.92$2.5080.1%23.0%41.2%11.7%80.0%0.0%-31.0%41.0K-3.3M-17.2K0.0238.79N/AN/A89226,5893,742
2023-05-18$3.04$2.5088.7%25.4%43.7%14.4%77.5%0.0%-11.9%39.1K-3.6M-17.8K0.0333.44N/AN/A231626,5313,740
2023-05-19$2.98$2.5058.2%16.7%44.3%4.7%47.5%0.0%2.5%40.6K-3.4M-17.5K0.1313.14N/AN/A4896326,5163,737
2023-05-22$3.04$2.5087.1%25.0%44.8%13.9%85.7%0.0%-12.8%40.0K-3.5M-17.4K0.0012.02N/AN/A169025,3933,589
2023-05-23$3.16$2.5078.8%22.6%39.6%11.2%98.2%0.0%-2.1%26.1K-4.1M-15.4K0.2514.01N/AN/A1152925,5103,588
2023-05-24$3.13$2.50100.0%28.7%39.5%18.0%98.6%0.0%-23.3%26.1K-3.9M-14.6K0.0013.06N/AN/A212025,4263,628
2023-05-25$3.08$2.5072.8%20.9%38.7%9.3%88.6%0.0%-17.9%39.9K-3.8M-17.9K0.0013.29N/AN/A40025,4483,628
2023-05-26$3.13$2.5062.1%17.8%38.0%5.9%63.5%0.0%7.1%42.6K-3.7M-16.8K0.1914.10N/AN/A531025,4823,628
2023-05-30$3.12$2.5096.8%27.8%38.0%17.0%79.2%0.0%0.7%25.5K-3.9M-14.7K0.0411.52N/AN/A8433325,5153,624
2023-05-31$3.13$2.5091.3%26.2%36.1%15.2%94.5%0.0%23.3%40.7K-3.8M-17.3K1.4112.40N/AN/A22731925,5673,595