NGL Options History — January 2025

In January 2025, NGL traded between $5.04 and $5.50. ATM implied volatility averaged 42.1%, placing in the 19.0% IV rank vs the trailing year. The 30-day expected move averaged 10.9%. IV traded above realized volatility by 2.7% (HV 20d: 39.4%). Max pain ranged from $4.00 to $5.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 1.23.

Notable Days

  • 2025-01-07: Highest Volume — 1,992 contracts
  • 2025-01-10: Largest IV spike — 120.3% change
  • 2025-01-14: Highest IV Rank — 57.8%
  • 2025-01-21: Largest Expected Move — 13.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.31$5.04$5.50$5.17$5.45
Max Pain$4.55$4.00$5.00$5.00$4.00
ATM IV42.1%26.1%86.7%32.9%38.2%
Expected Move10.9%7.5%13.8%9.4%10.9%
HV 20d39.4%30.9%45.1%30.9%44.3%
HV 60d36.4%34.1%37.8%35.9%37.7%
IV Rank19.0%5.0%57.8%11.0%15.6%
IV Percentile37.2%2.8%93.3%18.7%33.3%
Term Structure-1.9%-22.3%18.4%-4.5%9.0%
VWIV47.5%24.3%56.0%33.1%52.3%
Skew 25d-13.9%-24.1%-0.5%-6.4%-13.1%
Skew 10d5.3%-12.1%57.0%-8.6%56.5%
Call IV 25d49.1%34.1%55.3%39.4%52.7%
Put IV 25d35.2%29.3%48.4%33.0%39.6%
Bid-Ask Spread %79.2960.85101.4062.5580.80
Gamma HHI0.480.410.550.500.49
Net GEX56.1K39.1K82.3K67.2K47.5K
Net DEX-2.4M-3.2M-1.8M-2.3M-2.3M
Net VEX-8.8K-10.4K-6.6K-6.9K-10.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.230.008.220.228.22
Total Volume533.7561,9921,158249
Total OI12,575.759,46115,08412,79811,140

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-01-02$5.17$5.0032.9%9.4%30.9%11.0%33.1%-6.4%-4.5%67.2K-2.3M-6.9K0.2262.55N/AN/A94721110,1792,619
2025-01-03$5.32$5.0026.1%7.5%32.1%5.0%24.3%-2.0%18.4%51.9K-2.7M-6.6K0.2361.44N/AN/A46610710,4632,684
2025-01-06$5.04$5.0042.5%9.7%38.5%19.3%40.7%-18.3%2.0%63.1K-1.9M-7.0K0.0178.96N/AN/A356210,5732,741
2025-01-07$5.05$5.0035.1%10.3%35.4%12.8%44.9%-19.1%0.8%63.5K-2.0M-7.2K0.0083.18N/AN/A1,986610,8712,742
2025-01-08$5.04$5.0033.2%11.5%35.2%11.2%49.3%-18.7%-5.7%72.3K-2.2M-8.5K0.1381.59N/AN/A16211,9042,748
2025-01-10$5.28$5.0073.2%10.0%38.3%46.0%45.5%-14.8%7.3%76.4K-2.9M-9.1K0.0481.34N/AN/A1,0853911,9042,749
2025-01-13$5.21$5.0042.3%11.8%38.5%19.1%49.4%-13.5%-3.8%65.6K-2.7M-8.4K0.3682.83N/AN/A1294612,0302,823
2025-01-14$5.44$5.0086.7%13.5%39.9%57.8%49.4%-1.7%-22.3%82.3K-3.2M-8.8K0.3368.72N/AN/A2879612,0802,862
2025-01-15$5.40$5.0038.3%11.0%40.2%15.6%45.3%-15.6%-0.8%71.5K-3.1M-8.8K7.1577.36N/AN/A5942211,9602,928
2025-01-16$5.37$5.0034.5%9.9%40.0%12.4%52.8%-21.5%-1.8%49.6K-3.1M-9.2K0.0081.02N/AN/A127011,9383,146
2025-01-17$5.25$5.0035.6%10.2%40.2%13.3%47.9%-15.8%0.8%39.1K-2.7M-8.3K0.0581.12N/AN/A1,3406111,9313,146
2025-01-21$5.34$4.0048.1%13.8%39.1%24.2%49.0%-0.5%-21.3%43.2K-2.1M-8.9K1.8867.12N/AN/A2935508,1201,341
2025-01-22$5.41$4.0038.8%11.1%39.0%16.1%56.0%-18.9%-11.2%44.2K-2.1M-9.4K0.0385.98N/AN/A6028,4071,632
2025-01-23$5.50$4.0039.3%11.3%39.0%16.5%54.2%-14.7%-3.9%46.9K-2.4M-9.6K2.0560.85N/AN/A42868,4491,632
2025-01-24$5.40$4.0036.3%10.4%40.0%13.9%53.8%-24.1%0.2%46.1K-2.2M-9.6K0.2590.23N/AN/A5221288,4721,703
2025-01-27$5.23$4.0043.5%12.5%42.3%20.2%55.7%-18.3%-6.0%44.1K-1.8M-9.5K0.4782.45N/AN/A1578,9531,794
2025-01-28$5.47$4.0042.0%12.0%44.3%18.9%47.5%-11.1%-3.5%50.0K-2.4M-10.1K1.1794.54N/AN/A2663108,9641,795
2025-01-29$5.37$4.0038.9%11.1%45.1%16.1%54.9%-18.9%3.1%47.2K-2.1M-10.0K1.0082.40N/AN/A339,0931,952
2025-01-30$5.47$4.0036.8%10.5%45.1%14.3%43.2%-11.9%5.0%50.3K-2.2M-10.0K1.04101.40N/AN/A1711789,0931,954
2025-01-31$5.45$4.0038.2%10.9%44.3%15.6%52.3%-13.1%9.0%47.5K-2.3M-10.4K8.2280.80N/AN/A272229,0972,043