NGL Options History — October 2023

In October 2023, NGL traded between $3.83 and $4.21. ATM implied volatility averaged 62.0%, placing in the 6.9% IV rank vs the trailing year. The 30-day expected move averaged 17.3%. IV traded above realized volatility by 41.3% (HV 20d: 20.7%). 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 9 of 22 days. Put/call ratio averaged 0.95.

Notable Days

  • 2023-10-18: Highest Volume — 1,413 contracts
  • 2023-10-09: Largest IV spike — 83.9% change
  • 2023-10-09: Highest IV Rank — 20.6%
  • 2023-10-23: Largest Expected Move — 21.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.05$3.83$4.21$3.83$4.21
Max Pain$2.50$2.50$2.50$2.50$2.50
ATM IV62.0%46.7%105.5%76.1%52.1%
Expected Move17.3%13.4%21.9%21.8%14.9%
HV 20d20.7%16.0%23.3%21.6%17.0%
HV 60d27.9%24.6%29.9%29.9%24.6%
IV Rank6.9%2.0%20.6%11.3%3.7%
IV Percentile24.6%6.0%70.6%38.5%15.5%
Term Structure-1.1%-39.3%23.9%-5.0%-8.0%
VWIV66.2%41.1%103.7%103.7%103.0%
Bid-Ask Spread %19.647.8758.027.8721.89
Gamma HHI0.520.460.630.470.63
Net GEX44.3K37.3K49.3K38.5K48.1K
Net DEX-4.2M-4.6M-3.8M-3.8M-4.2M
Net VEX-9.6K-11.0K-8.3K-10.3K-8.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.950.006.655.830.00
Total Volume235.90971,41341202
Total OI26,285.523,88828,23226,98423,888

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-10-02$3.83$2.5076.1%21.8%21.6%11.3%103.7%0.0%-5.0%38.5K-3.8M-10.3K5.837.87N/AN/A63522,8284,156
2023-10-03$3.84$2.5055.6%16.0%21.6%4.9%0.0%0.0%-12.0%38.1K-3.9M-11.0K5.5610.63N/AN/A1810022,8244,165
2023-10-04$3.83$2.5066.8%19.2%21.6%8.4%86.4%0.0%-7.0%37.3K-3.8M-10.7K0.0928.91N/AN/A1701622,8164,265
2023-10-05$3.87$2.5055.5%17.4%21.2%4.8%0.0%0.0%10.6%38.0K-3.9M-9.6K0.2958.02N/AN/A351022,8734,249
2023-10-06$3.87$2.5057.4%17.6%21.1%5.4%0.0%0.0%15.6%41.0K-3.9M-8.7K6.6516.64N/AN/A3422622,8954,239
2023-10-09$3.96$2.50105.5%18.7%22.6%20.6%0.0%0.0%23.9%39.9K-4.1M-10.9K0.0011.76N/AN/A81022,8894,213
2023-10-10$3.98$2.5063.6%17.5%22.6%7.4%43.3%0.0%20.7%42.0K-4.2M-9.8K0.2419.22N/AN/A21522,9264,213
2023-10-11$3.96$2.5062.0%17.8%22.3%6.9%44.5%0.0%19.8%40.6K-4.1M-10.2K0.0012.00N/AN/A175022,9094,218
2023-10-12$4.00$2.5067.5%19.4%22.3%8.6%71.3%0.0%-14.7%43.2K-4.2M-8.4K1.9936.55N/AN/A8717322,8744,218
2023-10-13$4.09$2.5062.6%18.0%23.3%7.1%59.2%0.0%19.8%44.7K-4.4M-8.9K0.0318.14N/AN/A170522,8064,349
2023-10-16$4.11$2.5047.7%13.7%23.2%2.4%42.9%0.0%17.5%44.1K-4.4M-8.7K0.1228.90N/AN/A5967122,8984,349
2023-10-17$4.15$2.5053.9%15.5%23.3%4.3%0.0%0.0%17.3%47.1K-4.5M-8.4K0.0012.99N/AN/A7023,2674,399
2023-10-18$4.17$2.5057.2%16.4%23.2%5.4%72.6%0.0%20.4%47.3K-4.6M-9.3K0.0011.38N/AN/A1,412123,2664,399
2023-10-19$4.13$2.5074.7%21.4%22.3%10.9%75.7%0.0%-35.6%48.4K-4.5M-10.6K0.0033.35N/AN/A645023,8324,400
2023-10-20$4.16$2.5069.6%19.9%21.7%9.3%74.0%0.0%-38.6%48.9K-4.5M-10.4K0.009.82N/AN/A204023,6194,399
2023-10-23$4.11$2.5076.5%21.9%21.6%11.4%77.0%0.0%-39.3%47.4K-4.1M-9.9K0.0010.54N/AN/A53020,3503,834
2023-10-24$4.08$2.5046.7%13.4%16.0%2.0%0.0%0.0%-4.2%46.8K-4.0M-9.7K0.009.17N/AN/A43020,3683,834
2023-10-25$4.16$2.5062.9%18.0%16.1%7.1%41.3%0.0%-4.2%48.0K-4.2M-10.3K0.0216.25N/AN/A146320,3323,834
2023-10-26$4.19$2.5048.8%14.0%16.0%2.7%41.1%0.0%-9.2%49.3K-4.3M-9.7K0.0021.86N/AN/A149020,2933,837
2023-10-27$4.13$2.5047.9%13.7%17.1%2.4%0.0%0.0%-5.7%47.0K-4.1M-9.7K0.0021.65N/AN/A115020,1673,837
2023-10-30$4.17$2.5053.1%15.2%16.9%4.1%57.7%0.0%-7.5%48.2K-4.2M-8.3K0.0614.43N/AN/A1661020,1173,837
2023-10-31$4.21$2.5052.1%14.9%17.0%3.7%103.0%0.0%-8.0%48.1K-4.2M-8.4K0.0021.89N/AN/A202020,0413,847