NGL Options History — October 2025

In October 2025, NGL traded between $5.88 and $6.47. ATM implied volatility averaged 64.5%, placing in the 19.1% IV rank vs the trailing year. The 30-day expected move averaged 18.6%. IV traded above realized volatility by 12.4% (HV 20d: 52.1%). Max pain ranged from $4.00 to $6.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 5 of 23 days. Put/call ratio averaged 13.26.

Notable Days

  • 2025-10-16: Highest Volume — 2,046 contracts
  • 2025-10-14: Largest IV spike — 32.0% change
  • 2025-10-29: Highest IV Rank — 33.6%
  • 2025-10-29: Largest Expected Move — 28.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.24$5.88$6.47$6.11$6.45
Max Pain$5.30$4.00$6.00$4.00$6.00
ATM IV64.5%48.6%98.1%53.0%89.1%
Expected Move18.6%14.7%28.1%15.2%25.6%
HV 20d52.1%26.1%68.8%64.8%26.1%
HV 60d52.5%50.1%53.6%50.1%51.8%
IV Rank19.1%12.2%33.6%14.1%29.7%
IV Percentile79.0%52.0%99.2%65.9%98.0%
Term Structure-6.2%-48.8%28.6%4.1%-21.7%
VWIV63.3%42.9%80.2%58.1%65.8%
Skew 25d8.4%-9.2%40.0%-9.2%22.9%
Skew 10d7.7%-13.9%36.1%-13.9%17.9%
Call IV 25d58.7%27.0%68.5%60.6%64.9%
Put IV 25d67.1%43.7%87.8%51.4%87.8%
Bid-Ask Spread %71.1634.0595.3772.9195.37
Gamma HHI0.250.230.290.260.23
Net GEX57.1K39.2K69.5K65.0K48.6K
Net DEX-4.2M-4.9M-3.3M-4.5M-3.9M
Net VEX-14.2K-16.3K-12.5K-13.1K-15.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio13.260.00203.600.230.00
Total Volume385.08742,0462051,001
Total OI14,908.60913,93617,61613,93615,711

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-10-01$6.11$4.0053.0%15.2%64.8%14.1%58.1%-9.2%4.1%65.0K-4.5M-13.1K0.2372.91N/AN/A1673812,3741,562
2025-10-02$5.88$4.0053.9%15.5%64.3%14.5%42.9%-4.0%3.3%64.5K-4.0M-12.8K0.1967.24N/AN/A1623012,3741,578
2025-10-03$6.28$4.0051.2%14.7%68.1%13.3%80.2%40.0%28.6%66.0K-4.6M-12.5K0.3071.62N/AN/A1323912,3311,607
2025-10-06$6.09$5.0055.2%16.7%68.7%15.1%59.7%-1.2%-4.9%64.1K-4.5M-12.8K0.2034.05N/AN/A46912,4291,616
2025-10-07$6.13$5.0053.9%17.2%68.7%14.5%61.2%2.3%-8.1%65.1K-4.5M-12.6K0.2551.81N/AN/A8212,4591,624
2025-10-08$6.07$5.0058.3%16.1%68.8%16.4%56.2%-0.3%-2.9%65.5K-4.5M-12.6K0.0053.43N/AN/A11012,4641,624
2025-10-09$6.13$5.0054.2%16.3%68.7%14.7%0.0%-0.9%-5.2%63.2K-4.5M-12.7K0.0058.16N/AN/A1,021012,4651,627
2025-10-10$6.11$5.0069.7%18.2%68.7%21.4%69.8%11.4%-8.5%63.7K-4.8M-13.7K13.0089.71N/AN/A45213,0551,627
2025-10-13$6.23$5.0048.6%16.3%68.3%12.2%55.3%2.4%-2.4%69.5K-4.9M-13.6K0.0362.14N/AN/A3791313,0531,652
2025-10-14$6.12$5.0064.2%16.5%55.5%19.0%61.2%2.3%0.8%66.8K-4.6M-13.4K2.1861.53N/AN/A112412,9591,652
2025-10-15$6.29$5.0059.2%17.0%55.2%16.8%0.0%1.6%-7.8%68.4K-4.9M-13.3K0.0059.95N/AN/A16012,9611,647
2025-10-16$6.18$5.0064.8%18.6%53.4%19.2%67.5%1.6%-23.7%68.8K-4.7M-13.3K203.6067.76N/AN/A102,03612,9601,647
2025-10-17$6.14$5.0062.9%18.0%53.0%18.4%62.6%14.5%-3.1%42.2K-4.4M-14.1K7.3450.11N/AN/A12390312,9604,656
2025-10-20$6.28$6.0062.3%17.9%40.8%18.1%62.0%8.0%-1.2%41.2K-3.3M-14.5K0.0263.92N/AN/A61110,7183,691
2025-10-21$6.31$6.0061.1%17.5%38.8%17.6%66.4%8.6%-1.2%39.2K-3.3M-13.9K0.0066.52N/AN/A1,005010,7153,692
2025-10-22$6.47$6.0067.0%19.2%39.8%20.2%0.0%14.2%11.4%47.6K-4.0M-15.6K0.0091.60N/AN/A1,002011,5453,692
2025-10-23$6.38$6.0064.3%18.4%39.9%19.0%60.6%1.2%-12.8%52.5K-4.1M-16.3K8.5081.06N/AN/A2420411,9323,692
2025-10-24$6.27$6.0066.6%19.1%39.6%20.0%68.5%13.9%-9.2%50.7K-3.7M-16.1K56.0086.89N/AN/A15611,9313,792
2025-10-27$6.34$6.0066.3%19.0%37.8%19.9%65.8%16.0%-5.3%51.7K-3.9M-15.7K0.0088.43N/AN/A03511,9313,773
2025-10-28$6.44$6.0078.0%22.3%37.9%24.9%0.0%23.4%-16.9%47.6K-3.9M-15.4K0.0087.80N/AN/A206011,9313,776
2025-10-29$6.38$6.0098.1%28.1%37.9%33.6%71.6%16.3%-48.8%51.1K-3.8M-16.3K0.0091.16N/AN/A4011,9313,776
2025-10-30$6.43$6.0081.3%23.3%34.7%26.4%67.4%8.2%-7.2%49.3K-4.0M-15.8K0.0083.62N/AN/A21011,9303,776
2025-10-31$6.45$6.0089.1%25.6%26.1%29.7%65.8%22.9%-21.7%48.6K-3.9M-15.7K0.0095.37N/AN/A1,001011,9353,776