NGL Options History — July 2025

In July 2025, NGL traded between $4.20 and $4.38. ATM implied volatility averaged 57.2%, placing in the 15.9% IV rank vs the trailing year. The 30-day expected move averaged 17.1%. IV traded above realized volatility by 23.2% (HV 20d: 34.0%). Max pain ranged from $4.00 to $5.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 9.61.

Notable Days

  • 2025-07-09: Highest Volume — 804 contracts
  • 2025-07-09: Largest IV spike — 68.3% change
  • 2025-07-31: Highest IV Rank — 24.3%
  • 2025-07-31: Largest Expected Move — 22.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.29$4.20$4.38$4.30$4.25
Max Pain$4.14$4.00$5.00$5.00$5.00
ATM IV57.2%32.9%76.6%34.2%76.6%
Expected Move17.1%9.4%22.0%9.8%22.0%
HV 20d34.0%15.0%56.7%55.9%24.7%
HV 60d59.1%52.8%82.0%82.0%52.9%
IV Rank15.9%5.5%24.3%6.0%24.3%
IV Percentile69.7%14.3%94.4%16.7%94.4%
Term Structure-3.8%-24.4%24.1%18.1%-24.3%
VWIV55.2%31.4%66.8%39.3%45.6%
Skew 25d18.9%-19.1%84.8%-19.1%53.1%
Skew 10d49.6%-28.9%213.1%53.4%56.1%
Call IV 25d56.7%31.6%72.2%71.8%43.7%
Put IV 25d75.5%34.6%141.8%52.7%96.9%
Bid-Ask Spread %84.9157.6896.5860.2586.59
Gamma HHI0.480.390.700.500.39
Net GEX21.9K10.5K32.1K22.5K32.0K
Net DEX-1.0M-1.4M-657.7K-786.2K-1.2M
Net VEX-5.9K-6.6K-5.5K-6.6K-6.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio9.610.00200.000.100.03
Total Volume189.818180424931
Total OI14,469.2737,66819,63718,2848,707

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-07-01$4.30$5.0034.2%9.8%55.9%6.0%39.3%-19.1%18.1%22.5K-786.2K-6.6K0.1060.25N/AN/A2272214,4873,797
2025-07-02$4.36$5.0032.9%9.4%55.7%5.5%31.4%3.0%24.1%16.0K-832.8K-5.5K0.0057.68N/AN/A50014,3923,808
2025-07-03$4.25$4.0043.9%17.1%56.7%10.2%57.8%10.3%-5.1%13.1K-657.7K-6.0K0.0389.97N/AN/A196614,3373,808
2025-07-07$4.25$4.0039.8%16.5%55.5%8.4%64.6%-7.5%-1.8%10.5K-705.6K-5.5K0.0276.83N/AN/A510814,6183,806
2025-07-08$4.26$4.0035.9%17.2%47.3%6.7%60.0%10.4%-3.2%11.5K-863.9K-5.6K0.0087.42N/AN/A0114,8683,814
2025-07-09$4.31$4.0060.4%17.3%41.2%17.3%58.7%68.3%-3.3%15.1K-935.1K-5.6K200.0087.23N/AN/A480014,8683,815
2025-07-10$4.29$4.0062.2%17.8%41.1%18.1%0.0%84.8%-3.6%11.3K-833.6K-5.8K0.3390.20N/AN/A6214,8674,210
2025-07-11$4.30$4.0062.2%17.8%39.9%18.1%54.5%14.0%-5.6%15.7K-879.4K-5.6K0.0093.17N/AN/A200014,8694,212
2025-07-14$4.28$4.0059.3%17.0%37.6%16.8%0.0%7.4%-0.3%11.8K-865.6K-5.9K0.0088.12N/AN/A23015,0634,212
2025-07-15$4.31$4.0056.7%16.3%37.6%15.7%0.0%4.4%-3.3%18.4K-947.9K-5.7K0.8694.58N/AN/A494215,0714,212
2025-07-16$4.28$4.0057.5%16.5%36.5%16.1%0.0%3.3%-5.1%15.4K-892.8K-5.6K0.0096.58N/AN/A69015,0274,213
2025-07-17$4.29$4.0059.3%17.0%27.3%16.8%0.0%10.0%-5.0%15.3K-870.2K-5.6K0.0289.48N/AN/A7241814,9734,202
2025-07-18$4.25$4.0056.1%16.1%25.3%15.5%0.0%6.3%-1.7%27.1K-900.9K-5.9K0.0593.60N/AN/A2141015,4354,202
2025-07-21$4.28$4.0059.4%17.0%22.8%16.9%62.7%2.6%-0.6%29.7K-1.1M-6.0K0.1460.15N/AN/A114166,5341,134
2025-07-22$4.29$4.0064.2%18.4%22.8%19.0%66.8%7.1%1.4%29.9K-1.3M-6.1K0.0188.68N/AN/A7416,6411,145
2025-07-23$4.36$4.0060.9%17.5%20.5%17.5%0.0%30.9%2.3%30.8K-1.3M-6.1K0.0084.93N/AN/A33006,6991,144
2025-07-24$4.38$4.0060.8%17.4%15.0%17.5%65.6%7.0%-7.9%31.5K-1.4M-6.2K0.0883.67N/AN/A2526,9691,144
2025-07-25$4.27$4.0066.7%19.1%17.6%20.0%0.0%44.8%-14.4%30.0K-1.3M-6.1K0.0088.57N/AN/A506,9721,146
2025-07-28$4.20$4.0065.1%18.7%18.3%19.3%0.0%35.6%-9.9%29.1K-1.2M-5.7K0.0089.55N/AN/A506,9721,146
2025-07-29$4.36$4.0072.1%20.7%22.7%22.4%0.0%-0.0%-11.2%31.9K-1.3M-5.9K0.0094.55N/AN/A15106,9771,196
2025-07-30$4.23$4.0071.4%20.5%25.2%22.1%45.6%38.6%-24.4%32.1K-1.2M-5.9K0.1586.20N/AN/A209327,4161,196
2025-07-31$4.25$5.0076.6%22.0%24.7%24.3%0.0%53.1%-24.3%32.0K-1.2M-6.0K0.0386.59N/AN/A3017,4791,228