NGL Options History — March 2024

In March 2024, NGL traded between $5.75 and $6.04. ATM implied volatility averaged 42.4%, placing in the 13.9% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 22.4% (HV 20d: 20.0%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 14.28.

Notable Days

2024-03-07: Highest Volume — 458 contracts
2024-03-13: Largest IV drop — 52.9% change
2024-03-12: Highest IV Rank — 47.5%
2024-03-07: Largest Expected Move — 14.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.88	$5.75	$6.04	$6.04	$5.79
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	42.4%	28.3%	86.1%	40.9%	31.1%
Expected Move	10.6%	8.1%	14.9%	11.7%	8.9%
HV 20d	20.0%	18.5%	24.8%	22.7%	18.5%
HV 60d	31.4%	27.3%	35.6%	35.3%	27.3%
IV Rank	13.9%	3.0%	47.5%	12.7%	5.1%
IV Percentile	18.9%	1.2%	89.3%	7.1%	4.8%
Term Structure	1.0%	-9.0%	21.8%	7.9%	-8.5%
VWIV	54.7%	32.6%	159.1%	40.8%	159.1%
Bid-Ask Spread %	48.87	14.88	81.80	60.05	17.96
Gamma HHI	0.69	0.54	0.83	0.80	0.54
Net GEX	54.3K	22.7K	91.7K	91.3K	23.8K
Net DEX	-2.2M	-2.8M	-1.7M	-2.8M	-1.8M
Net VEX	-9.4K	-13.8K	-6.2K	-13.8K	-6.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	14.28	0.00	268.00	0.17	12.50
Total Volume	135.9	9	458	287	108
Total OI	19,524.95	18,957	19,804	19,719	19,554

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2024-03-01	$6.04	$5.00	40.9%	11.7%	22.7%	12.7%	40.8%	0.0%	7.9%	91.3K	-2.8M	-13.8K	0.17	60.05	N/A	N/A	245	42	16,596	3,123
2024-03-04	$6.03	$5.00	57.6%	12.0%	22.7%	25.6%	58.2%	0.0%	12.7%	91.7K	-2.8M	-13.8K	0.27	73.66	N/A	N/A	110	30	16,545	3,153
2024-03-05	$5.88	$5.00	50.7%	12.4%	24.3%	20.3%	53.4%	0.0%	21.8%	80.5K	-2.5M	-12.5K	0.00	77.50	N/A	N/A	97	0	16,532	3,153
2024-03-06	$5.97	$5.00	51.9%	13.8%	24.8%	21.2%	57.1%	0.0%	10.0%	83.5K	-2.6M	-12.9K	0.58	74.19	N/A	N/A	36	21	16,538	3,154
2024-03-07	$5.92	$5.00	53.5%	14.9%	21.5%	22.4%	60.9%	0.0%	-5.9%	81.4K	-2.5M	-12.3K	0.00	81.11	N/A	N/A	456	2	16,542	3,153
2024-03-08	$5.81	$5.00	54.4%	14.4%	19.6%	23.1%	0.0%	0.0%	0.2%	69.5K	-2.2M	-11.4K	0.13	81.65	N/A	N/A	8	1	16,504	3,155
2024-03-11	$5.88	$5.00	71.9%	12.6%	19.1%	36.6%	50.8%	0.0%	11.2%	74.8K	-2.2M	-10.7K	0.43	57.81	N/A	N/A	124	53	16,500	3,156
2024-03-12	$5.86	$5.00	86.1%	11.5%	18.9%	47.5%	52.1%	0.0%	17.0%	73.1K	-2.2M	-10.6K	0.02	54.45	N/A	N/A	215	5	16,606	3,177
2024-03-13	$5.87	$5.00	40.5%	11.6%	18.7%	12.4%	42.1%	0.0%	18.4%	73.8K	-2.2M	-10.5K	0.15	55.08	N/A	N/A	27	4	16,613	3,177
2024-03-14	$5.96	$5.00	28.5%	8.2%	19.3%	3.1%	32.6%	0.0%	-5.4%	87.8K	-2.5M	-11.6K	0.25	62.72	N/A	N/A	154	39	16,627	3,177
2024-03-15	$6.00	$5.00	30.1%	8.6%	19.0%	4.4%	33.5%	0.0%	-6.2%	35.5K	-2.1M	-7.3K	0.40	58.27	N/A	N/A	52	21	16,606	3,196
2024-03-18	$5.94	$5.00	39.8%	11.4%	19.3%	11.9%	41.6%	0.0%	-7.2%	43.2K	-2.0M	-7.4K	0.20	81.80	N/A	N/A	83	17	16,348	2,803
2024-03-19	$5.89	$5.00	30.7%	8.8%	18.8%	4.8%	0.0%	0.0%	-7.2%	28.3K	-1.9M	-6.6K	0.00	17.63	N/A	N/A	17	0	16,366	2,818
2024-03-20	$5.87	$5.00	32.5%	9.3%	18.9%	6.2%	0.0%	0.0%	-6.4%	28.3K	-1.9M	-6.6K	0.33	23.45	N/A	N/A	15	5	16,377	2,818
2024-03-21	$5.83	$5.00	28.3%	8.1%	19.1%	3.0%	46.0%	0.0%	-6.2%	25.8K	-2.0M	-6.2K	268.00	14.88	N/A	N/A	1	268	16,393	2,564
2024-03-22	$5.83	$5.00	28.8%	8.3%	18.9%	3.4%	0.0%	0.0%	-6.5%	24.2K	-1.9M	-6.4K	1.96	21.21	N/A	N/A	102	200	16,393	2,797
2024-03-25	$5.83	$5.00	30.6%	8.8%	18.7%	4.7%	0.0%	0.0%	-7.8%	23.7K	-1.8M	-7.0K	0.00	22.17	N/A	N/A	17	0	16,414	2,997
2024-03-26	$5.75	$5.00	31.4%	9.0%	18.6%	5.4%	37.0%	0.0%	-9.0%	23.8K	-1.7M	-6.6K	0.10	21.13	N/A	N/A	21	2	16,430	2,997
2024-03-27	$5.75	$5.00	28.8%	8.3%	18.5%	3.4%	0.0%	0.0%	-3.0%	22.7K	-1.7M	-6.4K	0.03	20.63	N/A	N/A	117	3	16,449	2,998
2024-03-28	$5.79	$5.00	31.1%	8.9%	18.5%	5.1%	159.1%	0.0%	-8.5%	23.8K	-1.8M	-6.7K	12.50	17.96	N/A	N/A	8	100	16,556	2,998