NGL Options History — April 2025

In April 2025, NGL traded between $2.84 and $4.66. ATM implied volatility averaged 64.5%, placing in the 38.4% IV rank vs the trailing year. The 30-day expected move averaged 18.1%. IV traded below realized volatility by 19.5% (HV 20d: 83.9%). Max pain ranged from $3.00 to $4.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 3.98.

Notable Days

  • 2025-04-09: Highest Volume — 3,999 contracts
  • 2025-04-04: Largest IV spike — 128.4% change
  • 2025-04-21: Highest IV Rank — 77.1%
  • 2025-04-21: Largest Expected Move — 31.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.33$2.84$4.66$4.63$2.91
Max Pain$3.33$3.00$4.00$4.00$3.00
ATM IV64.5%28.7%108.9%28.7%63.8%
Expected Move18.1%8.5%31.2%12.1%18.3%
HV 20d83.9%17.7%104.3%18.2%104.3%
HV 60d80.0%63.8%85.5%64.7%85.5%
IV Rank38.4%7.3%77.1%7.3%37.8%
IV Percentile73.8%6.7%97.6%6.7%81.3%
Term Structure-8.4%-37.4%40.5%12.6%-21.0%
VWIV62.6%32.6%105.2%42.3%62.6%
Skew 25d44.4%-22.9%165.9%0.8%12.5%
Skew 10d94.8%-17.5%296.4%-8.0%21.9%
Call IV 25d58.3%29.9%96.6%32.0%70.4%
Put IV 25d102.6%30.7%243.7%32.8%82.9%
Bid-Ask Spread %90.0150.44128.0786.8678.61
Gamma HHI0.400.210.810.290.59
Net GEX8.6K-5.8K41.1K32.9K-5.8K
Net DEX448.2K-746.2K885.1K-685.5K676.3K
Net VEX-4.9K-9.6K-3.2K-9.5K-3.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.980.0030.000.000.00
Total Volume459.8113,9992191
Total OI19,266.1915,58922,95420,09315,652

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$4.63$4.0028.7%12.1%18.2%7.3%42.3%0.8%12.6%32.9K-685.5K-9.5K0.0086.86N/AN/A219015,5434,550
2025-04-02$4.66$4.0037.7%12.8%17.7%15.2%0.0%-8.2%1.8%35.3K-746.2K-9.6K0.5084.90N/AN/A4215,6264,549
2025-04-03$4.53$4.0030.7%8.5%19.6%9.0%0.0%0.8%19.4%33.7K-648.8K-9.3K0.01110.11N/AN/A368515,6224,550
2025-04-04$3.66$4.0070.0%11.4%76.8%43.3%32.6%1.0%3.5%10.0K457.3K-5.9K0.34123.35N/AN/A36512515,8714,545
2025-04-07$3.36$4.0069.1%16.6%80.8%42.5%65.9%-22.9%-32.5%8.9K606.7K-4.9K6.01128.07N/AN/A3422,05516,2324,499
2025-04-08$3.30$4.0069.2%18.7%80.8%42.5%50.6%93.0%-14.6%10.9K571.4K-4.8K0.0090.76N/AN/A904416,2684,333
2025-04-09$3.38$4.0068.4%19.6%82.1%41.8%68.3%2.3%-10.7%8.3K396.0K-5.8K0.3093.38N/AN/A3,07092917,0694,323
2025-04-10$2.98$3.0080.1%23.0%90.9%52.0%80.7%22.8%-36.4%5.7K827.5K-3.7K0.0697.67N/AN/A3512217,2105,147
2025-04-11$3.17$3.0077.5%22.2%94.7%49.7%43.9%30.8%-19.9%8.5K596.5K-5.0K30.0089.29N/AN/A13017,4685,156
2025-04-14$3.12$3.0075.6%21.7%94.4%48.1%48.0%87.0%-37.4%10.3K665.1K-4.6K0.1682.87N/AN/A25417,4695,185
2025-04-15$2.92$3.0068.6%19.7%95.3%42.0%68.6%92.6%-28.7%4.8K787.8K-3.7K17.2691.34N/AN/A1932817,4805,184
2025-04-16$2.90$3.0070.8%20.3%95.1%44.0%67.9%147.1%-7.2%3.3K885.1K-3.2K7.0687.42N/AN/A1812717,4725,482
2025-04-17$3.01$3.0070.3%20.2%97.2%43.5%70.2%-14.3%-4.9%41.1K760.8K-3.9K13.1783.57N/AN/A1823717,4815,311
2025-04-21$2.84$3.00108.9%31.2%97.5%77.1%105.2%119.0%40.5%132469.6K-4.8K0.25121.98N/AN/A4111,2934,296
2025-04-22$2.96$3.0069.7%20.0%100.2%42.9%69.7%3.5%-6.7%-4.6K709.7K-3.2K2.3350.44N/AN/A61411,2974,297
2025-04-23$3.04$3.0066.0%18.9%101.4%39.8%68.5%165.9%-3.3%-5.5K705.3K-3.2K1.5068.82N/AN/A2311,2984,292
2025-04-24$3.17$3.0044.0%12.6%103.8%20.6%55.0%19.2%22.1%-4.3K486.6K-4.6K0.0288.65N/AN/A41111,2994,294
2025-04-25$3.13$3.0060.5%17.3%103.6%35.0%54.2%63.4%-5.8%-4.7K630.5K-3.6K0.6775.97N/AN/A3211,3504,295
2025-04-28$3.13$3.0060.8%17.4%103.8%35.2%73.4%56.3%-33.0%-4.6K633.1K-3.5K0.0064.77N/AN/A3011,3534,297
2025-04-29$3.12$3.0063.4%18.2%103.9%37.5%0.0%59.5%-14.8%-3.9K627.9K-3.5K0.0091.47N/AN/A3011,3554,297
2025-04-30$2.91$3.0063.8%18.3%104.3%37.8%62.6%12.5%-21.0%-5.8K676.3K-3.2K0.0078.61N/AN/A0111,3554,297