Trading a NGL straddle lets you take a pure volatility position on NGL Energy Partners LP without committing to a direction. NGL Energy Partners LP's straddle involves buying (or selling) a call and a put at the same strike and expiration, profiting when the stock moves more (or less) than the combined premium implies. Use our scanner to evaluate NGL straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on NGL profits from large moves in either direction and is a classic play into binary events like earnings, product announcements, or macro releases. A short straddle profits when NGL Energy Partners LP stays range-bound and implied volatility contracts. The breakeven points are simple: strike plus total premium on the upside, strike minus total premium on the downside. Comparing the NGL straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.
The Crude Oil Logistics segment purchases crude oil from producers and marketers, and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, and transportation services through pipelines. The Liquids Logistics segment supplies natural gas liquids, refined petroleum products, and biodiesel to commercial, retail, and industrial customers in the United States and Canada through its 24 terminals, third-party storage and terminal facilities, and nine common carrier pipelines, as well as through fleet of leased railcars. This segment is also involved in the marine export of butane through its facility located in Chesapeake, Virginia. NGL Energy Holdings LLC serves as the general partner of the company. The company was founded in 1940 and is headquartered in Tulsa, Oklahoma.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the NGL straddle is the cleanest expression of that view. Our scanner prices every NGL straddle against historical realized moves, flags expirations where the market is overpaying or underpaying for vol, and ranks setups by breakeven width and IV rank. Whether you're long a NGL straddle into a catalyst or short a NGL straddle to harvest decay, the options straddle setups that matter are all in one place.
