Northern Oil and Gas, Inc. (NOG) Volatility Skew
Implied volatility skew shows how IV varies across strike prices for a given expiration. Steeper skews indicate higher demand for downside protection relative to upside speculation.
Northern Oil and Gas, Inc. (NOG) operates in the Energy sector, specifically the Oil & Gas Exploration & Production industry, with a market capitalization near $2.47B, listed on NYSE, employing roughly 49 people, carrying a beta of 0.77 to the broader market. Northern Oil and Gas, Inc. Led by James Evans, public since 2007-04-13.
Snapshot as of May 15, 2026.
- Spot Price
- $24.34
- ATM IV
- 43.0%
- IV Skew 25Δ
- -0.000
- IV Rank
- 12.4%
- IV Percentile
- 9.1%
- Term Structure Slope
- -0.014
As of May 15, 2026, Northern Oil and Gas, Inc. (NOG) at-the-money implied volatility is 43.0%. IV rank is 12.4% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 9.1%. The 25-delta skew is -0.000: skew is roughly flat across the 25-delta wings. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.
NOG Strategy Selection at Current Volatility Levels
For Northern Oil and Gas, Inc. options at 43.0% ATM IV, low IV rank (12.4%) favors premium-buying or long-vol structures: long calls or puts, debit spreads, calendar spreads, long straddles. The risk: low-rank regimes can persist for months while time decay eats premium-buyers alive. Pair the vol-rank read with the dealer-gamma view and the upcoming-events calendar to confirm the strategy fits both the structural regime and the path-dependent risk. The variance risk premium - the persistent gap between implied and subsequently realized vol - is positive in equity markets on average; high IV rank typically reflects a stretch where the premium is wider than usual.
Learn how volatility skew is reported and how to read the data →
NOG highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $25.00 | Jun 18, 2026 | 368 | 253 | 42.9% | $0.95 | $1.15 |
Top 1 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked NOG volatility skew questions
- What is the current NOG ATM implied volatility?
- As of May 15, 2026, Northern Oil and Gas, Inc. (NOG) at-the-money implied volatility is 43.0%. IV rank is 12.4% on a 0-100% scale anchored to the 1-year IV range. ATM IV is the volatility input that makes a Black-Scholes-equivalent model reproduce the listed at-the-money option prices.
- Is NOG IV high or low historically?
- IV is subdued relative to its 1-year history, conditions that typically favor premium-buying strategies (long calls, long puts, debit spreads, calendar spreads).
- What does NOG volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. Northern Oil and Gas, Inc. skew is roughly flat across the 25-delta wings. Skew matters for risk-defined strategy selection: when downside puts are rich, put-credit spreads capture more premium; when upside calls are rich, call-credit spreads or covered-call writes harvest more.