NGL Options History — August 2025

In August 2025, NGL traded between $4.00 and $5.40. ATM implied volatility averaged 52.8%, placing in the 14.0% IV rank vs the trailing year. The 30-day expected move averaged 13.0%. IV traded above realized volatility by 9.2% (HV 20d: 43.6%). Max pain ranged from $1.00 to $5.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.88.

Notable Days

  • 2025-08-28: Highest Volume — 3,355 contracts
  • 2025-08-08: Largest IV drop — 46.9% change
  • 2025-08-07: Highest IV Rank — 32.4%
  • 2025-08-01: Largest Expected Move — 20.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.75$4.00$5.40$4.12$5.40
Max Pain$3.62$1.00$5.00$5.00$4.00
ATM IV52.8%37.7%95.4%69.6%39.4%
Expected Move13.0%10.8%20.0%20.0%11.3%
HV 20d43.6%25.1%51.3%25.5%49.0%
HV 60d51.2%45.1%56.5%53.5%46.2%
IV Rank14.0%7.5%32.4%21.3%8.2%
IV Percentile52.1%25.0%98.0%87.7%31.3%
Term Structure-1.1%-14.2%5.0%-14.2%-4.4%
VWIV43.4%34.4%69.5%69.5%47.2%
Skew 25d12.7%-9.0%138.1%16.7%7.2%
Skew 10d40.2%-11.0%302.4%24.0%26.2%
Call IV 25d38.7%24.0%59.7%52.8%24.0%
Put IV 25d51.3%31.2%169.0%69.5%31.2%
Bid-Ask Spread %83.5760.1298.7081.3091.57
Gamma HHI0.450.370.630.380.45
Net GEX48.3K27.2K87.8K28.8K53.2K
Net DEX-2.0M-3.3M-982.8K-1.1M-3.3M
Net VEX-6.8K-8.7K-5.5K-6.1K-8.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.880.007.780.030.01
Total Volume375.42923,35572342
Total OI9,292.6678,73810,1588,73810,158

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$4.12$5.0069.6%20.0%25.5%21.3%69.5%16.7%-14.2%28.8K-1.1M-6.1K0.0381.30N/AN/A7027,5091,229
2025-08-04$4.09$4.0088.0%16.7%25.5%29.3%0.0%-3.3%-5.3%29.2K-1.1M-5.8K5.5083.43N/AN/A2117,5671,229
2025-08-05$4.05$4.0088.6%16.5%25.6%29.5%0.0%12.2%-6.0%28.0K-1.1M-5.8K0.0085.64N/AN/A207,5671,239
2025-08-06$4.05$4.0088.9%16.8%25.1%29.6%0.0%13.1%-3.3%27.4K-1.0M-5.6K0.0082.90N/AN/A507,5781,239
2025-08-07$4.00$4.0095.4%15.8%25.3%32.4%55.1%9.2%-3.9%27.2K-982.8K-5.5K0.2884.80N/AN/A108307,5781,239
2025-08-08$4.44$4.0050.6%12.6%45.9%13.1%47.4%-2.4%-0.4%35.1K-1.4M-5.9K0.0198.66N/AN/A1,04487,5921,269
2025-08-11$4.66$4.0058.9%11.9%48.8%16.7%0.0%-9.0%0.9%47.1K-1.7M-6.1K0.0198.70N/AN/A998107,7811,277
2025-08-12$4.73$4.0038.0%11.6%48.9%7.7%45.6%-4.4%4.0%50.3K-1.9M-7.1K0.1883.42N/AN/A137248,3331,270
2025-08-13$4.87$4.0042.9%12.3%49.4%9.8%34.4%-0.8%0.6%63.4K-2.1M-7.0K0.0083.02N/AN/A30918,3381,264
2025-08-14$4.92$4.0042.1%12.1%49.4%9.4%42.1%2.1%0.8%74.1K-2.2M-7.0K0.0083.29N/AN/A9008,3651,264
2025-08-15$5.00$4.0042.4%12.2%49.1%9.6%37.5%6.0%-0.7%87.8K-2.4M-7.0K0.2260.12N/AN/A68158,4501,262
2025-08-18$4.95$1.0042.4%12.1%49.6%9.5%42.9%8.2%-1.1%47.1K-2.3M-7.0K0.0061.55N/AN/A41927,7931,128
2025-08-19$4.89$1.0042.9%12.3%50.0%9.8%42.9%-3.6%-0.6%49.9K-2.2M-7.3K0.8081.92N/AN/A15128,2001,129
2025-08-20$4.92$1.0039.4%11.3%49.9%8.2%39.3%6.8%1.8%50.8K-2.3M-7.3K2.3181.93N/AN/A13308,2131,141
2025-08-21$4.94$4.0037.7%10.8%49.9%7.5%37.7%2.2%2.3%52.7K-2.3M-7.1K0.4084.58N/AN/A528,2251,149
2025-08-22$4.92$4.0038.4%11.0%48.7%7.8%38.4%6.0%5.0%50.4K-2.3M-7.1K0.0280.34N/AN/A18038,2291,150
2025-08-25$5.17$4.0040.8%11.7%50.1%8.8%41.1%138.1%-0.7%53.6K-2.7M-7.4K0.3581.92N/AN/A2891018,4091,147
2025-08-26$5.06$4.0043.6%12.5%50.2%10.1%43.6%29.4%-2.4%52.2K-2.5M-7.3K0.4990.28N/AN/A69348,3251,242
2025-08-27$5.09$4.0038.7%11.1%48.2%7.9%37.5%22.5%1.0%53.2K-2.5M-7.3K7.7883.92N/AN/A9708,3301,229
2025-08-28$5.40$4.0039.5%11.3%51.3%8.3%36.4%9.4%4.2%52.0K-3.0M-7.4K0.0091.69N/AN/A3,344118,3361,174
2025-08-29$5.40$4.0039.4%11.3%49.0%8.2%47.2%7.2%-4.4%53.2K-3.3M-8.7K0.0191.57N/AN/A34028,9731,185