NGL Options History — May 2025

In May 2025, NGL traded between $2.96 and $3.71. ATM implied volatility averaged 69.0%, placing in the 28.7% IV rank vs the trailing year. The 30-day expected move averaged 16.8%. IV traded above realized volatility by 1.5% (HV 20d: 67.5%). Max pain ranged from $1.00 to $3.00. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.39.

Notable Days

  • 2025-05-29: Highest Volume — 1,400 contracts
  • 2025-05-13: Largest IV spike — 182.7% change
  • 2025-05-13: Highest IV Rank — 100.0%
  • 2025-05-08: Largest Expected Move — 20.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.29$2.96$3.71$3.03$3.55
Max Pain$1.95$1.00$3.00$3.00$2.00
ATM IV69.0%39.2%251.8%54.4%39.2%
Expected Move16.8%11.2%20.9%15.6%11.2%
HV 20d67.5%52.4%106.3%106.3%66.4%
HV 60d74.3%67.8%85.9%85.7%74.5%
IV Rank28.7%8.2%100.0%29.6%8.2%
IV Percentile76.6%32.1%100.0%74.2%32.1%
Term Structure-10.2%-40.0%28.5%-21.8%28.5%
VWIV70.3%34.6%139.0%139.0%34.6%
Skew 25d23.5%-24.9%113.1%1.8%12.1%
Skew 10d58.8%-5.1%182.4%17.9%-3.1%
Call IV 25d52.4%27.9%81.4%61.0%27.9%
Put IV 25d75.9%38.8%183.7%62.8%40.0%
Bid-Ask Spread %90.4060.82126.0987.9977.57
Gamma HHI0.450.230.640.600.33
Net GEX116-8.5K8.3K-6.5K8.3K
Net DEX476.5K231.8K698.8K680.3K265.2K
Net VEX-3.7K-5.0K-2.8K-3.2K-5.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.390.004.640.050.01
Total Volume204.14311,4002757
Total OI15,602.85714,01617,09615,65217,096

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$3.03$3.0054.4%15.6%106.3%29.6%139.0%1.8%-21.8%-6.5K680.3K-3.2K0.0087.99N/AN/A0211,3554,297
2025-05-02$2.96$3.0055.3%15.9%106.3%30.5%61.0%113.1%-19.1%-7.0K698.8K-3.1K0.0588.86N/AN/A21111,3554,298
2025-05-05$3.02$3.0070.4%18.3%79.2%43.6%70.5%56.6%-20.3%-4.9K689.5K-3.1K0.0190.83N/AN/A108111,3654,298
2025-05-06$3.02$2.0061.2%18.7%74.0%35.6%66.0%60.1%-25.4%-7.2K645.7K-3.2K0.0076.58N/AN/A1011,4724,299
2025-05-07$3.09$2.0071.5%15.1%74.5%44.5%65.8%66.2%-22.9%-7.7K628.4K-3.1K0.00106.77N/AN/A6011,4734,299
2025-05-08$3.11$2.0061.1%20.9%73.9%35.5%0.0%64.6%-27.9%-8.5K577.0K-3.4K0.0091.46N/AN/A10011,4744,299
2025-05-09$3.06$2.0068.8%19.0%58.6%42.2%0.0%63.1%-3.5%-7.5K654.7K-3.0K0.5091.56N/AN/A2111,4844,279
2025-05-12$3.23$2.0089.1%19.9%57.6%59.8%0.0%46.9%-16.8%-7.9K622.0K-2.8K1.00102.88N/AN/A2211,4844,280
2025-05-13$3.38$2.00251.8%19.3%59.3%100.0%67.7%22.0%-0.5%1.7K447.4K-3.5K0.0494.36N/AN/A55211,4774,282
2025-05-14$3.41$1.0050.6%14.5%53.1%13.1%62.0%0.9%-5.5%2.0K432.1K-3.4K4.6490.79N/AN/A115111,4824,283
2025-05-15$3.38$1.0051.3%14.7%53.2%13.4%79.9%-2.9%-0.9%2.7K424.7K-3.5K0.0291.05N/AN/A103211,4824,283
2025-05-16$3.34$1.0040.9%11.7%52.4%8.9%0.0%3.3%4.7%2.4K491.5K-3.3K0.73109.44N/AN/A221611,3964,284
2025-05-19$3.71$1.0052.1%14.9%58.0%13.7%63.2%8.0%17.9%3.2K276.2K-4.1K0.2194.80N/AN/A2144510,6423,374
2025-05-20$3.70$2.0057.9%16.6%57.3%16.2%65.4%-16.7%-1.8%4.9K231.8K-4.4K0.0084.87N/AN/A1,167010,8553,419
2025-05-21$3.42$2.0055.0%15.8%65.2%15.0%58.7%-0.5%-7.0%6.0K327.5K-4.5K0.0160.82N/AN/A116112,0213,419
2025-05-22$3.38$2.0047.6%13.6%64.0%11.8%0.0%5.3%-2.4%5.4K407.0K-4.0K0.00126.09N/AN/A14012,1363,419
2025-05-23$3.31$2.0069.8%20.0%64.3%21.4%64.2%16.5%-22.0%5.2K400.8K-4.1K0.00104.87N/AN/A30012,1503,419
2025-05-27$3.29$2.0064.1%18.4%64.4%18.9%0.0%6.8%-40.0%5.9K388.1K-4.1K0.0074.61N/AN/A11012,1803,419
2025-05-28$3.45$2.0065.1%18.7%66.3%19.4%78.7%-24.9%-21.0%6.0K345.3K-4.2K0.0086.07N/AN/A113012,1933,419
2025-05-29$3.30$2.0071.8%20.6%63.1%22.3%78.4%-8.7%-5.7%5.9K373.3K-3.9K0.6166.18N/AN/A86953112,3003,419
2025-05-30$3.55$2.0039.2%11.2%66.4%8.2%34.6%12.1%28.5%8.3K265.2K-5.0K0.0177.57N/AN/A752513,1803,916