NGL Energy Partners LP (NGL)

NGL trades at $6.1, 52.5% above the near-term max pain of $4 expiring Oct 17, 2025 (12 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($3-$95), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for NGL shows a downward trend from 95 to 3, indicating bearish sentiment or hedging activity. The 407% spread signals divergent expectations across timeframes. Most levels below 6.1 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.