NGL Options History — February 2025

In February 2025, NGL traded between $4.25 and $5.64. ATM implied volatility averaged 45.9%, placing in the 22.2% IV rank vs the trailing year. The 30-day expected move averaged 12.5%. IV traded below realized volatility by 36.0% (HV 20d: 81.9%). Max pain ranged from $4.00 to $5.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 9.87.

Notable Days

  • 2025-02-10: Highest Volume — 6,734 contracts
  • 2025-02-28: Largest IV spike — 37.2% change
  • 2025-02-10: Highest IV Rank — 38.3%
  • 2025-02-03: Largest Expected Move — 16.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.95$4.25$5.64$5.43$4.83
Max Pain$4.58$4.00$5.00$4.00$4.00
ATM IV45.9%29.0%64.3%57.8%39.7%
Expected Move12.5%8.3%16.6%16.6%11.4%
HV 20d81.9%35.5%103.8%41.9%103.8%
HV 60d57.1%37.0%67.1%37.7%67.0%
IV Rank22.2%7.5%38.3%32.6%16.9%
IV Percentile52.9%7.9%83.7%77.4%40.1%
Term Structure-5.0%-31.0%13.6%-14.2%5.9%
VWIV46.4%26.5%58.5%58.5%54.2%
Skew 25d6.5%-18.7%200.1%-2.1%200.1%
Skew 10d20.0%-21.2%273.6%0.2%273.6%
Call IV 25d46.2%28.2%60.0%58.5%39.9%
Put IV 25d52.7%33.9%239.9%56.4%239.9%
Bid-Ask Spread %60.9637.6078.8170.5637.60
Gamma HHI0.390.310.540.410.34
Net GEX49.2K30.1K94.6K38.3K46.9K
Net DEX-1.4M-2.6M-447.1K-2.2M-1.1M
Net VEX-11.3K-14.0K-7.7K-10.5K-12.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio9.870.00147.33147.330.00
Total Volume670.31646,73444576
Total OI16,541.47411,26019,80811,26018,592

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$5.43$4.0057.8%16.6%41.9%32.6%58.5%-2.1%-14.2%38.3K-2.2M-10.5K147.3370.56N/AN/A34429,1082,152
2025-02-04$5.61$4.0049.2%14.1%42.3%25.1%40.6%-15.5%-31.0%48.1K-2.4M-10.6K0.1276.04N/AN/A260329,1072,430
2025-02-05$5.64$4.0053.5%15.3%36.6%28.9%58.2%-16.3%-20.7%48.7K-2.6M-10.8K0.0474.59N/AN/A10149,1792,461
2025-02-06$5.48$5.0048.9%13.4%38.6%24.9%41.0%4.9%-4.8%47.8K-2.3M-10.5K0.0168.16N/AN/A6719,2172,463
2025-02-07$5.53$5.0050.4%11.1%38.5%26.2%49.5%8.0%-1.3%48.9K-2.2M-10.1K0.0178.63N/AN/A35339,1782,465
2025-02-10$5.62$5.0064.3%12.9%35.5%38.3%50.9%-18.7%-0.4%45.7K-2.5M-10.6K0.0178.81N/AN/A6,664709,2482,467
2025-02-11$4.37$5.0051.8%12.7%97.2%27.4%51.6%-6.7%-3.3%32.8K-539.3K-8.5K0.1761.37N/AN/A61910614,4542,607
2025-02-12$4.25$5.0045.2%13.0%95.4%21.6%50.3%0.4%1.3%32.0K-447.1K-7.7K28.7458.68N/AN/A531,52315,0712,483
2025-02-13$4.49$5.0032.3%9.2%98.4%10.4%44.2%-12.4%9.7%39.9K-747.9K-11.6K3.5954.33N/AN/A10738415,0634,226
2025-02-14$4.88$5.0044.1%12.6%103.7%20.7%44.0%-0.7%-5.8%70.9K-1.4M-13.6K0.1453.57N/AN/A701015,1354,307
2025-02-18$4.94$5.0047.5%13.6%103.7%23.7%47.4%-12.7%-9.3%81.3K-1.6M-13.4K4.4952.02N/AN/A7232315,1394,308
2025-02-19$4.88$5.0043.6%12.5%103.5%20.3%39.8%1.3%-15.1%85.9K-1.2M-12.7K0.0051.76N/AN/A20015,1134,615
2025-02-20$4.89$5.0035.7%10.2%103.3%13.4%26.5%14.0%2.0%94.6K-1.4M-14.0K0.4365.05N/AN/A1486415,1154,615
2025-02-21$4.78$5.0045.5%13.0%103.1%21.9%51.7%-3.7%-16.6%38.3K-950.8K-12.6K0.0456.24N/AN/A7133015,1614,647
2025-02-24$4.61$4.0045.3%13.0%103.6%21.7%45.3%-5.7%-11.5%30.1K-554.9K-10.9K0.0054.93N/AN/A314013,8034,534
2025-02-25$4.62$4.0048.2%13.8%103.2%24.3%48.7%-12.4%-6.3%34.8K-752.0K-11.7K2.0759.71N/AN/A153114,0824,532
2025-02-26$4.55$4.0039.8%11.4%101.5%16.9%45.7%3.6%13.6%35.2K-700.2K-11.8K0.4263.82N/AN/A381614,0884,532
2025-02-27$4.56$4.0029.0%8.3%101.5%7.5%34.2%-2.0%12.2%35.1K-793.0K-11.6K0.0042.36N/AN/A4014,0744,517
2025-02-28$4.83$4.0039.7%11.4%103.8%16.9%54.2%200.1%5.9%46.9K-1.1M-12.5K0.0037.60N/AN/A76014,0754,517