NGL Options History — June 2025

In June 2025, NGL traded between $3.33 and $4.69. ATM implied volatility averaged 48.7%, placing in the 12.3% IV rank vs the trailing year. The 30-day expected move averaged 13.8%. IV traded below realized volatility by 21.9% (HV 20d: 70.6%). Max pain ranged from $2.00 to $5.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.53.

Notable Days

  • 2025-06-20: Highest Volume — 2,718 contracts
  • 2025-06-05: Largest IV spike — 67.3% change
  • 2025-06-05: Highest IV Rank — 27.0%
  • 2025-06-05: Largest Expected Move — 16.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.14$3.33$4.69$3.37$4.29
Max Pain$4.05$2.00$5.00$2.00$5.00
ATM IV48.7%33.9%82.8%39.9%40.3%
Expected Move13.8%11.5%16.8%11.5%11.6%
HV 20d70.6%60.3%78.0%68.9%60.3%
HV 60d79.6%74.9%82.3%75.1%82.2%
IV Rank12.3%5.9%27.0%8.5%8.6%
IV Percentile56.6%16.7%96.0%35.7%34.9%
Term Structure7.0%-25.1%89.2%9.8%27.8%
VWIV50.7%41.1%66.1%47.6%53.0%
Skew 25d1.4%-22.2%49.6%-6.2%-13.2%
Skew 10d42.9%-21.6%127.3%-6.5%-15.2%
Call IV 25d48.5%33.0%68.6%40.3%64.1%
Put IV 25d49.9%32.0%89.2%34.1%50.9%
Bid-Ask Spread %68.9047.3288.5588.5547.32
Gamma HHI0.410.290.560.350.55
Net GEX19.5K8.1K31.0K8.1K16.8K
Net DEX-667.8K-1.7M399.4K385.8K-709.5K
Net VEX-6.1K-7.5K-4.4K-4.4K-6.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.530.003.331.301.06
Total Volume385.5532,7182333
Total OI17,840.117,28918,66417,53318,306

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-06-02$3.37$2.0039.9%11.5%68.9%8.5%47.6%-6.2%9.8%8.1K385.8K-4.4K1.3088.55N/AN/A101313,6153,918
2025-06-03$3.37$3.0053.7%15.4%68.7%14.4%0.0%-8.9%-16.1%9.8K378.0K-4.5K0.0076.43N/AN/A12013,6223,931
2025-06-04$3.33$3.0049.5%14.2%69.0%12.6%43.8%-15.1%-7.1%9.2K399.4K-4.4K1.0057.90N/AN/A6613,6153,931
2025-06-05$3.48$4.0082.8%16.8%70.1%27.0%54.7%-12.7%-11.2%11.9K176.6K-4.9K0.0079.58N/AN/A363013,6103,834
2025-06-06$3.80$4.0033.9%15.8%75.9%5.9%41.1%1.9%-1.9%18.5K-96.1K-5.6K0.6664.20N/AN/A64042313,5983,834
2025-06-09$4.07$4.0040.2%12.3%78.0%8.6%53.0%6.8%-0.1%25.8K-613.4K-6.7K0.0075.80N/AN/A312014,1893,852
2025-06-10$4.04$4.0055.7%13.8%76.9%15.3%44.4%49.6%10.6%21.9K-421.7K-6.2K0.1868.38N/AN/A1643013,9493,852
2025-06-11$4.16$4.0046.9%13.4%76.1%11.5%46.7%42.1%1.8%24.1K-630.8K-6.3K0.0069.08N/AN/A727013,9783,865
2025-06-12$4.32$4.0048.6%13.9%76.8%12.2%48.3%23.2%1.4%19.8K-866.8K-6.2K0.0772.28N/AN/A1941313,5413,865
2025-06-13$4.29$4.0050.7%14.5%76.7%13.1%46.4%12.2%4.7%18.6K-895.2K-6.2K0.0077.79N/AN/A235013,4233,866
2025-06-16$4.40$4.0044.9%12.9%76.3%10.6%46.7%8.0%-6.0%17.1K-983.2K-5.8K0.6964.84N/AN/A292013,4343,866
2025-06-17$4.69$4.0048.1%13.8%71.0%12.0%51.2%22.5%-25.1%26.2K-1.5M-6.3K0.1083.66N/AN/A8218413,4283,866
2025-06-18$4.54$4.0049.5%14.2%72.5%12.6%59.1%-22.2%89.2%23.0K-1.4M-7.1K1.6283.71N/AN/A7812614,0973,949
2025-06-20$4.67$4.0051.4%14.7%64.7%13.4%49.2%-14.0%5.5%26.7K-1.7M-6.7K0.0166.62N/AN/A2,6902814,0813,997
2025-06-23$4.62$4.0051.5%14.8%64.6%13.5%50.1%-12.9%4.1%31.0K-1.4M-7.5K0.0054.33N/AN/A314014,7043,960
2025-06-24$4.46$5.0043.6%12.5%65.9%10.1%53.4%-19.3%2.6%24.4K-1.1M-7.0K0.0157.63N/AN/A257214,6233,760
2025-06-25$4.29$5.0051.9%14.9%68.2%13.7%49.2%-11.3%8.4%17.3K-753.4K-6.7K0.6362.16N/AN/A322014,5223,758
2025-06-26$4.30$5.0043.3%12.4%67.1%9.9%66.1%-0.8%22.4%19.6K-728.7K-6.5K0.0064.15N/AN/A3014,5043,778
2025-06-27$4.33$5.0047.4%13.6%63.9%11.7%60.0%-2.4%18.9%20.5K-877.2K-6.8K3.3363.67N/AN/A62014,5033,778
2025-06-30$4.29$5.0040.3%11.6%60.3%8.6%53.0%-13.2%27.8%16.8K-709.5K-6.1K1.0647.32N/AN/A161714,5083,798