NGL Options History — July 2023

In July 2023, NGL traded between $3.79 and $4.24. ATM implied volatility averaged 67.9%, placing in the 7.8% IV rank vs the trailing year. The 30-day expected move averaged 20.5%. IV traded above realized volatility by 26.6% (HV 20d: 41.3%). Max pain ranged from $2.50 to $2.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.31.

Notable Days

  • 2023-07-31: Highest Volume — 1,622 contracts
  • 2023-07-25: Largest IV spike — 68.7% change
  • 2023-07-31: Highest IV Rank — 16.3%
  • 2023-07-31: Largest Expected Move — 27.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.94$3.79$4.24$4.00$4.24
Max Pain$2.50$2.50$2.50$2.50$2.50
ATM IV67.9%48.1%94.5%48.7%94.5%
Expected Move20.5%13.8%27.1%14.0%27.1%
HV 20d41.3%27.4%55.2%55.2%31.5%
HV 60d45.4%43.7%46.4%45.7%44.0%
IV Rank7.8%1.5%16.3%1.7%16.3%
IV Percentile20.3%4.0%52.0%5.2%52.0%
Term Structure4.2%-19.4%36.8%33.6%-19.4%
VWIV75.8%47.6%96.4%94.7%95.6%
Bid-Ask Spread %26.958.2569.9211.2317.97
Gamma HHI0.480.470.530.480.53
Net GEX47.5K43.9K55.8K45.9K55.8K
Net DEX-5.3M-6.0M-4.4M-5.8M-5.6M
Net VEX-17.2K-18.7K-16.1K-18.6K-18.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.310.004.120.020.07
Total Volume349.15801,6221811,622
Total OI30,620.3525,74232,82532,33426,617

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$4.00$2.5048.7%14.0%55.2%1.7%94.7%0.0%33.6%45.9K-5.8M-18.6K0.0211.23N/AN/A178328,5103,824
2023-07-05$4.08$2.5051.4%14.7%54.7%2.5%89.6%0.0%36.8%47.4K-6.0M-18.7K0.1310.26N/AN/A4706328,5733,844
2023-07-06$4.04$2.5050.7%22.1%54.9%2.3%76.4%0.0%-7.6%47.4K-5.9M-17.6K0.3552.17N/AN/A2468628,4453,815
2023-07-07$4.03$2.5057.1%23.1%52.2%4.3%80.9%0.0%-11.0%47.3K-5.9M-17.7K0.0624.65N/AN/A94628,5033,784
2023-07-10$3.88$2.5065.5%23.2%54.1%7.0%80.4%0.0%-11.3%44.4K-5.4M-18.3K4.1265.54N/AN/A3414028,3423,824
2023-07-11$3.88$2.5075.4%23.2%53.5%10.2%82.2%0.0%-17.6%43.9K-5.3M-17.2K0.0069.92N/AN/A365028,3683,957
2023-07-12$3.83$2.5065.1%18.7%47.7%6.9%62.9%0.0%26.7%44.3K-5.2M-17.3K0.1210.66N/AN/A3494228,5523,957
2023-07-13$3.84$2.5065.9%18.9%43.7%7.1%78.2%0.0%-9.5%46.5K-5.3M-17.0K0.0010.77N/AN/A80028,8143,950
2023-07-14$3.79$2.5070.3%20.2%43.7%8.6%47.8%0.0%24.1%46.8K-5.1M-16.5K0.0215.33N/AN/A169428,8503,950
2023-07-17$3.84$2.5071.0%20.3%39.2%8.8%48.8%0.0%25.5%46.2K-5.3M-17.0K0.4857.02N/AN/A1055028,8743,951
2023-07-18$3.87$2.5074.4%21.3%38.6%9.9%76.4%0.0%-16.6%46.4K-5.3M-16.4K0.1657.14N/AN/A3285428,8233,940
2023-07-19$3.80$2.5069.6%20.0%37.3%8.3%47.6%0.0%21.0%44.8K-5.2M-16.6K0.1953.31N/AN/A2344528,7883,905
2023-07-20$3.79$2.5075.9%21.8%37.2%10.3%66.2%0.0%10.9%44.9K-5.1M-16.6K0.039.49N/AN/A184528,7833,938
2023-07-21$3.79$2.5074.0%21.2%35.5%9.7%66.0%0.0%-18.0%47.0K-5.1M-16.5K0.1710.51N/AN/A1512528,9033,867
2023-07-24$3.88$2.5048.1%13.8%33.7%1.5%96.4%0.0%29.7%47.6K-4.4M-16.3K0.0112.84N/AN/A400322,4423,300
2023-07-25$4.04$2.5081.2%23.3%31.1%12.0%82.1%0.0%-9.3%51.0K-4.8M-17.1K0.028.25N/AN/A4961222,5133,303
2023-07-26$4.04$2.5078.8%22.6%27.4%11.2%81.0%0.0%-11.9%50.1K-4.8M-16.1K0.049.73N/AN/A133522,7733,315
2023-07-27$4.01$2.5080.8%23.2%27.7%11.9%86.7%0.0%-17.0%47.5K-4.8M-17.0K0.099.83N/AN/A2252122,8453,347
2023-07-28$4.05$2.5060.1%17.2%27.8%5.3%0.0%0.0%24.6%54.8K-4.8M-16.2K0.0322.38N/AN/A5421422,9593,359
2023-07-31$4.24$2.5094.5%27.1%31.5%16.3%95.6%0.0%-19.4%55.8K-5.6M-18.4K0.0717.97N/AN/A1,51011223,2543,363